Which Type of Railroad Car Has the Greatest Numbers in Service

question 2

Multiple Choice

Which type of railroad car has the greatest numbers in service?

• A) tank car
• B) covered hopper
• C) flat car
• D) Gondola

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Definitions:

FIFO Method

A method of inventory valuation where the first items purchased are the first to be sold or used.

Beginning Work

The initial stock of work-in-process inventory at the start of an accounting period.

Conversion Costs

The combination of direct labor and manufacturing overhead costs incurred to convert raw materials into finished goods.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, measuring them in terms of the amount of completed goods they represent.