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Work in Progress (WIP)
Work in Progress refers to partially completed goods in a production process. It includes the cost of raw materials, labour, and overhead incurred so far. WIP is recorded as an inventory asset on the balance sheet until the production cycle is complete and goods are sold.
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Working Capital Turnover
This ratio measures how efficiently a business uses its working capital to generate revenue. Calculated as Net Sales ÷ Average…
Write-Down
A write-down is a reduction in the book value of an asset when its fair market value falls below the…
Weighted Average Cost
This inventory valuation method calculates the cost of goods sold and ending inventory based on the average cost of all…
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