Prototyping Occurs in Two Forms

question 20

Short Answer

Prototyping occurs in two forms.In one,called __________________ prototyping the original
prototype is slowly enhanced to become the final product.In the other,called _______________
prototyping,the original prototype is used as an "experimental" system that is ultimately discarded.

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Definitions:

Inventory Valuation

The method of calculating the cost of goods available for sale and determining the end inventory balance.

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and costs necessary to make the sale.

Market Value

Market value is the current price at which an asset or service can be bought or sold in a marketplace.

Ending Inventory

The total value of all merchandise or goods held by a company at the end of an accounting period, which has not been sold.