Examlex
Pasteurization _______.
FIFO
An inventory valuation method (First In, First Out) where the oldest inventory items are recorded as sold first.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a dataset, often used in inventory valuation and grading.
Lower-Of-Cost-Or-Market
An accounting principle that values inventory at the lower of its historical cost or market value, to comply with the conservatism principle.
Inventory Valuation
The method of assigning a monetary value to items in inventory, critical for cost of goods sold calculation and financial reporting.
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