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Fill in the blank with one of the words or phrases listed below.
-The circle, parabola, ellipse, and hyperbola are called the .
Joint Production Costs
Costs incurred during the process of producing multiple products simultaneously where the costs cannot be attributed to individual products easily.
Relative Sales Value Method
A method used to allocate joint costs based on the relative sales value of the products produced from the same process or operation.
Allocated
The distribution of resources, costs, or expenses to specific departments, projects, or cost centers according to a predetermined method.
Constant Gross Margin Method
An inventory valuation method that maintains a fixed gross margin percentage for costing inventory despite changes in the cost of goods sold.
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