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Conversion Costs
Costs specifically associated with converting raw materials into finished goods, which include labor and overhead.
Whole Units
The number of units in production during a period, whether completed or not.
FIFO Method
An inventory valuation method that assumes the first items placed in inventory are the first sold, standing for "First-In, First-Out."
Conversion Costs
The costs specifically associated with converting raw materials into finished goods, typically including direct labor and manufacturing overhead.
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