Examlex
Once pyruvate is converted to lactate in the muscle it cannot be converted back.
Equivalent Unit
A concept used in cost accounting to represent a partial unit of production, allowing for the calculation of costs for partially completed goods.
First-In, First-Out
An inventory valuation method where the first items placed in inventory are the first ones sold, used primarily for cost flow assumption purposes.
Conversion Costs
Costs that are incurred to convert raw materials into finished products, typically including direct labor and manufacturing overhead.
Completed Units
The term refers to items that have been fully manufactured, processed, or finished and are ready for sale.
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