Examlex
Match the following:
-third step in win-win negotiations
Work in Process
Inventory that includes the materials, labor, and overhead costs for products that are in the production process but not yet complete.
Equivalent Units
A measure used in cost accounting to express the amount of work done on incomplete units in terms of complete units.
First-in
Commonly part of the term "First-in, First-out (FIFO)", a method used in inventory management where the oldest stock is sold first.
Labor
Work performed by humans that is used in the production of goods and services.
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