Product costs are costs that are incurred to create a product that is intended for sale to customers. Product costs include direct material| Corporate Finance Institute
Inventory is a current asset account consisting of all raw materials, work-in-progress, and finished goods that a company has accumulated.| Corporate Finance Institute
Cost is something that can be classified in several ways depending on its nature. One of the most popular methods is classification according| Corporate Finance Institute
Job order costing is used to allocate costs based on a specific job order. This guide provides the job order costing formula and how to calculate it.| Corporate Finance Institute
Activity-based costing is a more specific way of allocating overhead costs based on “activities” that actually contribute to overhead costs.| Corporate Finance Institute
Cost of Goods Manufactured (COGM) is a term used in managerial accounting that refers to a schedule or statement that shows the total| Corporate Finance Institute
Cost of Goods Sold (COGS) measures the direct cost incurred in the production of any goods or services. It includes material cost, direct| Corporate Finance Institute
Explore CFI's full catalog of accounting courses and free resources aimed at beginners and finance professionals. Learn accounting online at your own pace.| Corporate Finance Institute