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Admin
2 Min Read

What is an inventory cost? The cost incurred due to acquisition of inventory is known as inventory cost. Technically, inventory cost is associated with procurement, management, and storage of stock. Elements of Inventory Costs Inventory cost is classified into three major elements. These elements are…

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Admin
3 Min Read

What is Manufacturing Overhead? The total costs involved in product manufacturing is called manufacturing overhead. We can also consider it as the cost incurred during a firm’s manufacturing operations. Manufacturing overhead is also known as factory burden, factory overhead, and production overhead. It is different…

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Admin
3 Min Read

Backordering is a process that allows customers to place an order even if the product is out of stock. These orders cannot be shipped or filled immediately. Items that pass through this backorder process are known as back-ordered items. Backorder is a type of agreement…