Examlex
________ inventory consists of products in the process of being manufactured but not yet complete.
FIFO Method
"First In, First Out," an inventory valuation method where goods first received are the first to be sold, assuming costs of earliest goods are those expensed first.
Physical Flow
The movement of physical goods or materials within a production process or supply chain.
Ending Inventory
The total value of all the goods available for sale at the end of an accounting period.
Average Unit Cost
The cost incurred for producing a single unit, calculated by dividing the total cost of production by the number of units produced.
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