Terminology for Cost Management

These terms are used throughout the Oracle Cost Management playbook.

Term	Definition
API	Application Programming Interface.
Average Cost Method	Assigns a cost to inventory items based on the total cost of goods purchased or produced in a period divided by the total number of items purchased or produced.
OIC	Oracle Integration Cloud.
REST	Representational State Transfer. Software architecture that imposes conditions on how an API should work.
Standard Cost	A predetermined cost, an estimated future cost, an expected cost, a budgeted unit cost, a forecast cost, or as the “should be” cost.