The average cost method is one of the three inventory valuation methods, and the other two common methods are first in, first out (FIFO) and last in, first out (LIFO).
A bill of lading is a legal document issued by a carrier to a shipper that specifies the type, quantity and destination of the goods being transported.
Bill of Materials (BOM) is a centralized source of information containing a list of elements used to manufacture a product and instructions on how to do so.