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Equivalent Units
A concept in cost accounting used to estimate the amount of finished goods produced from raw materials and partial productions.
Units Transferred Out
In a production or manufacturing process, this refers to the number of units completed and moved out of a process or department during a given period.
Weighted-Average Method
An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.
First-In, First-Out Methods
An inventory valuation method where the first items produced or purchased are the first ones sold, affecting the cost of goods sold and inventory valuation.
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