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Graph 9-7
-According to Graph 9-7, consumer surplus after trade would be:
Raw Materials
Basic materials that are used in the production process to manufacture goods, including commodities or components, before they are processed.
Specific Jobs
Work assignments or projects that are distinct and identifiable in their objectives, scope, and duration.
Perpetual Inventory Method
An inventory accounting system where updates are made continuously to the inventory records to reflect sales and purchases.
Job Order Cost System
An accounting system used to accumulate costs associated with a specific production batch or job.
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