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What types of costs are assigned to merchandise inventory?
Basic Unit
The fundamental, smallest, or simplest quantity or component in a system or set of measurements often used as a standard of measurement.
Metric System
A measurement system that uses the meter for length, liter for volume, and gram for weight or mass, all based on decimal calculations.
Ml
Milliliter, a unit of volume in the metric system equal to one thousandth of a liter.
Ounces
A unit of weight in the avoirdupois system, equivalent to 1/16th of a pound or approximately 28.35 grams.
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