Examlex
Match each term with its correct definition.
-epistasis
FIFO Method
"First In, First Out," an inventory valuation method that assumes that the first items placed in inventory are the first sold, affecting the cost of goods sold and inventory valuation.
Direct Materials
Basic substances that can be directly linked to the manufacturing of particular products or services.
Conversion Costs
Conversion Costs are manufacturing expenses related to turning raw materials into finished products, typically including labor and overhead costs.
Transferred-In Costs
Costs accumulated from a previous process or department that are carried into the cost of goods in the next phase of production.
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