AVERAGE COST METHOD Definition

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AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.

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PERVASIVENESS OF ESTIMATES means that the estimates have to be complete, of high quality and in depth, i.e., they have to adequately cover the whole accounting entity.

PICKUP, in securities, is the higher yield obtained in a swap transac­tion-that is, the improved yield on the item being purchased relative to the selling yield on the security being liquidated.

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