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FIFO Process Costing
A method of process costing that assumes the first items produced are the first sold or used, ideal for businesses where inventory shelf life is a concern.
Equivalent Unit
A concept in cost accounting used to measure the amount of work done on partial units of production, converting them into a number of fully completed units for costing purposes.
Conversion Rate
Conversion rate is a metric that measures the percentage of users who take a desired action out of the total number of visitors, often used in digital marketing and e-commerce.
Ethically Produced Cotton
Cotton grown and harvested in a manner that respects the environment and the labor rights of the workers, avoiding harmful pesticides and unjust labor practices.
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