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  2. 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.

  3. 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.

  4. Cost of goods available for sale - Wikipedia

    en.wikipedia.org/wiki/Cost_of_Goods_Available...

    Cost of goods available for sale is the maximum amount of goods, or inventory, that a company can possibly sell during an accounting period. It has the formula: [ 1 ] Beginning Inventory (at the start of accounting period) + purchases (within the accounting period) + Production (within the accounting period) = cost of goods available for sale

  5. 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.

  6. Inventory turnover - Wikipedia

    en.wikipedia.org/wiki/Inventory_turnover

    However, cost of sales is recorded by the firm at what the firm actually paid for the materials available for sale. Additionally, firms may reduce prices to generate sales in an effort to cycle inventory. In this article, the terms "cost of sales" and "cost of goods sold" are synonymous.

  7. Pricing strategies - Wikipedia

    en.wikipedia.org/wiki/Pricing_strategies

    Cost plus pricing is a cost-based method for setting the prices of goods and services. Under this approach, the direct material cost, direct labor cost, and overhead costs for a product are added up and added to a markup percentage (to create a profit margin) in order to derive the price of the product.

  8. Supply (economics) - Wikipedia

    en.wikipedia.org/wiki/Supply_(economics)

    A supply schedule is a table which shows how much one or more firms will be willing to supply at particular prices under the existing circumstances. [1] Some of the more important factors affecting supply are the good's own price, the prices of related goods, production costs, technology, the production function, and expectations of sellers.

  9. FIFO and LIFO accounting - Wikipedia

    en.wikipedia.org/wiki/FIFO_and_LIFO_accounting

    "FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first (but this does not necessarily mean that the exact oldest physical object has been tracked and sold). In other words, the cost associated with the inventory that was purchased first is the cost expensed first.