Which of the following is not a costing method?

Study for the Maximo Certification Test. Maximo offers comprehensive training programs for asset management solutions. Prepare with flashcards and multiple choice questions, each with hints and explanations to boost your exam performance.

The choice of "Mean" as the answer implies that it is not recognized as a costing method in standard accounting or inventory management practices. Costing methods are typically defined methods for calculating costs associated with goods or services. Common recognized methods include "Standard," which involves predetermined costs for products; "Average," which applies the total cost averaged over units produced; and other recognized methods like "FIFO" or "LIFO" in inventory valuation.

While "Mean" can refer to the average value, it is not typically categorized as a formal costing method. The term "deviated" is not a standard terminology used in costing methods, but its association with deviation from expected costs suggests it might relate more to variance analysis rather than direct costing.

In this context, identifying "Mean" as not a costing method helps clarify the terminology associated with cost accounting. This helps in understanding the various recognized methods of costing used within financial practices and their respective applications.

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