Name Several of the Steel Identification Numbering Systems in Use

question 2

Essay

Name several of the steel identification numbering systems in use today.

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Definitions:

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are made.

Inventory Costing

The method of accounting that determines the value of a company's inventory, taking into account the costs of acquiring, producing, and other costs associated to bring the inventory to its current condition and location.

Cost of Goods Sold

An accounting term denoting the direct costs attributable to the production of goods sold by a company.

FIFO

"First In, First Out," an inventory valuation method where the goods first added to inventory are the first to be sold.