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Explain the difference between the means by service

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Question 1. Explain what is the difference between FIFO (First In First Out) and Weighted average method. How do they actually approach the calculations in terms of preparing a report, so how does it differ? Also, Why some companies prefer FIFO Method and some companies prefer Weighted Average Method?

Question 2. Explain the difference between the means by service department and operating department?

Question 3. What is the definition of margin of safety?

Reference no: EM132171861

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