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Electronic conferencing is popular because it reduces travel expenses and saves money.
LIFO
"Last In, First Out" - an inventory valuation method where the most recently produced or purchased items are recorded as sold first.
FIFO
"First-In, First-Out," an inventory valuation method where goods first purchased or produced are the first to be sold or used.
Weighted Average
Weighted average is a calculation that takes into account the varying degrees of importance of the numbers in a dataset, assigning weights to some of the numbers more than others.
Inventory Carrying Cost
The total cost of holding inventory, which includes warehousing, depreciation, obsolescence, spoilage, insurance, and taxes, among others.
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