Computers Process Information (Output) into Data (Input)

question 9

True/False

Computers process information (output) into data (input).

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Definitions:

LIFO

Last In, First Out, an inventory valuation method where the most recently produced or purchased items are the first to be expensed.

Dollar-Value LIFO

Dollar-Value LIFO method is an inventory costing method that uses the LIFO principle coupled with grouping inventory into pools based on dollar value instead of physical units.

Base Year Cost

The initial cost of an asset or investment, used as a reference point to measure the cost growth or performance over time.

Price Index

A statistical measure that shows changes in the price level of a basket of consumer goods and services over time, used to gauge inflation or deflation.