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  2. Joint cost - Wikipedia

    en.wikipedia.org/wiki/Joint_cost

    Almost all manufacturers incur joint costs at some level the manufacturing process. [2] It can also be defined as the cost to operate joint-product processes including the disposal of waste. [3] With regard to joint costs, it is essential to allocate the joint cost for the different joint products for determining individual product costs.

  3. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    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.

  4. Joint product pricing - Wikipedia

    en.wikipedia.org/wiki/Joint_product_pricing

    In microeconomics, joint product pricing is the firm's problem of choosing prices for joint products, which are two or more products produced from the same process or operation, each considered to be of value. Pricing for joint products is more complex than pricing for a single product. To begin with, there are two demand curves.

  5. Inventory - Wikipedia

    en.wikipedia.org/wiki/Inventory

    Cost of Beginning Inventory at the start of the period + inventory purchases within the period + cost of production within the period = cost of goods available; Cost of goods available − cost of ending inventory at the end of the period = cost of goods sold; The benefit of these formulas is that the first absorbs all overheads of production ...

  6. Inventory valuation - Wikipedia

    en.wikipedia.org/wiki/Inventory_valuation

    The retail inventory method uses a cost to retail price ratio. The physical inventory is valued at retail, and it is multiplied by the cost ratio (or percentage) to determine the estimated cost of the ending inventory. The gross profit method uses the previous years average gross profit margin (i.e. sales minus cost of goods sold divided by ...

  7. Vendor-managed inventory - Wikipedia

    en.wikipedia.org/wiki/Vendor-managed_inventory

    2. Inventory Ownership. Inventory ownership refers to the ownership of the inventory and when the invoice is being issued to the retailer. In vendor managed inventory, there is a number of solutions in terms of payment and transfer of ownership. [11] In the first alternative, the vendor is the owner of inventory at the premises of the customer.

  8. Collaborative planning, forecasting, and replenishment

    en.wikipedia.org/wiki/Collaborative_Planning...

    Collaborative planning, forecasting, and replenishment (CPFR) is an approach to the supply chain process which focuses on joint practices.This is done through cooperative management of inventory through joint visibility and replenishment of products throughout the supply chain.

  9. Inventory control - Wikipedia

    en.wikipedia.org/wiki/Inventory_control

    The control of inventory involves managing the physical quantities as well as the costing of the goods as it flows through the supply chain. In managing the cost prices of the goods throughout the supply chain, several costing methods are employed: Retail method; Weighted Average Price method; FIFO (First In First Out) method