List the Four Methods of Delivery

question 14

Short Answer

List the four methods of delivery.

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Definitions:

Average Cost

A method of inventory valuation where the cost of goods sold and ending inventory is determined by taking the weighted average of the cost of all items available for sale during the period.

FIFO

First-In, First-Out, an inventory valuation method where goods purchased first are sold first, affecting the cost of goods sold and ending inventory value.

Average Cost Method

An inventory valuation method that calculates the cost of goods sold based on the average cost of all items in stock.

Physical Flow

The actual movement or transfer of goods and materials through a production process or supply chain, distinct from the associated flow of costs or information.