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Apple Computer, Inc. collected information on the age of their customers. The youngest customer was 12 and the oldest was 72. To study the distribution of the age among its customers, it can use a Pareto diagram.
Process Costing
A costing method used where identical or similar items are produced in masses.
FIFO Method
An inventory valuation method where the first items produced or purchased are the first ones to be sold.
Equivalent Units
A concept in cost accounting used to calculate the cost of partially finished goods, converting them into an equivalent number of fully finished units.
FIFO Method
A inventory valuation method where the first items produced or acquired are sold or used first.
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