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Materials Account
An account used in bookkeeping to track costs of raw materials during an accounting period.
FIFO Method
The FIFO (First-In, First-Out) method is an inventory valuation strategy where the oldest inventory items are sold or used first.
Weighted Average Method
The weighted average method is an inventory costing approach that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.
Weighted Average Method
An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale during the period.
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