Examlex
So-called "hard-cases" occur only in discussions of ethical theory, and not in real life.
Constant Gross Margin Method
An inventory valuation method that maintains a fixed gross margin percentage for costing inventory despite changes in the cost of goods sold.
Joint Cost
The costs incurred in producing products up to a split-off point in a process that yields multiple products, typically allocated among the products based on some reasonable method.
Split-off
A point in the manufacturing process where multiple products are generated from a common input.
Opportunity Cost
The potential benefit lost when choosing one alternative over another.
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