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The oldest cost (i.e., the first in) is then matched against revenue and assigned to cost of goods sold. Last-In First-Out (LIFO) is the reverse of FIFO. Some systems permit determining the costs of goods at the time acquired or made, but assigning costs to goods sold under the assumption that the goods made or acquired last are sold first.
An integrated approach that taught topics in geometry and algebra during each of three years, with exams like “Math A” and “Math B” normally taken after a year and a half and again after three years, was replaced by a curriculum that divides topics into Algebra I, Geometry, and Algebra II. Each of these take the form of a one-year ...
In mathematics, especially in the area of abstract algebra known as ring theory, a free algebra is the noncommutative analogue of a polynomial ring since its elements may be described as "polynomials" with non-commuting variables. Likewise, the polynomial ring may be regarded as a free commutative algebra.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
In biology, the biological cost or metabolic price is a measure of the increased energy metabolism that is required to achieve a function. Drug resistance in microbiology, for instance, has a very high metabolic price, [1] especially for antibiotic resistance. [2]
The fixed cost refers to the cost that is incurred regardless of how much the firm produces. The variable cost is a function of the quantity of an object being produced. The cost function can be used to characterize production through the duality theory in economics, developed mainly by Ronald Shephard (1953, 1970) and other scholars (Sickles ...
Biology is the scientific study of life. [1] [2] [3] It is a natural science with a broad scope but has several unifying themes that tie it together as a single, coherent field. [1] [2] [3] For instance, all organisms are composed of at least one cell that processes hereditary information encoded in genes, which
The unit of construction costs is g g −1 (g glucose required / g biomass produced). Theoretically, if the biochemical pathways to construct all of the thousands of different compounds of an organism would be known, as well as the concentrations of all those compounds, construction costs could be simply calculated as the product of concentration and construction costs, summed over all ...