________ Is an Example of an Element

question 27

Multiple Choice

________ is an example of an element.

• A)Water
• B)Carbon
• C)Glucose
• D)Salt

---

Definitions:

Average Costing

A method of inventory valuation where all goods are assigned the average cost of all similar goods available during the period.

FIFO

An inventory valuation method standing for “First-In, First-Out,” where the cost of the oldest inventory items are the first to be expensed.

Cost Of Production Report

A document that summarizes the production and cost activity within a manufacturing department over a specific period.

Finished Goods

Products that have completed the manufacturing process and are ready for sale.