What is a warranty?
Most of the products we purchase come with some type of warranty. A warranty is guarantee that the manufacturer of the product will repair or replace the product for a certain period
What Is a Weighted Average?
Most people know how to do a simple average, but have trouble with a weighted average. Weighted averages are all around us, although you may not have realized it. In most classes,
Last-in, first-out (LIFO) is an inventory method popular with companies that experience frequent increases in the cost of their product. LIFO is used primarily by oil companies and supermarkets, because
Calculating Cost Using First-In, First-Out (FIFO)
The First-In, First-Out method, also called FIFO, is the most straight-forward of all the methods. When determining the cost of a sale, the company uses