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The Earth rotates about its axis once per 24 hours,while the Moon rotates about its axis once per
FIFO Method
"First In, First Out," an inventory valuation method where goods first added to inventory are the first ones to be sold.
Weighted-Average Method
A technique used in various contexts, such as inventory valuation and cost accounting, that calculates an average taking into account the proportionate importance of each component.
Equivalent Units
A concept in cost accounting used to allocate production costs between completed and partially completed goods.
FIFO Method
First-In, First-Out method, an inventory valuation technique where goods first added to inventory are assumed to be the first ones sold.
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