Common use of Fungible Goods or Materials Clause in Contracts

Fungible Goods or Materials. Each Party shall provide that a fungible good or material is treated as originating based on the: (a) physical segregation of each fungible good or material; or (b) use of any inventory management method recognised in the Generally Accepted Accounting Principles if the fungible good or material is commingled, provided that the inventory management method selected is used throughout the fiscal year of the person that selected the inventory management method.

Fungible Goods or Materials. Each Party shall provide that a fungible good or material is treated as originating based on the: (a) physical segregation of each fungible good or material; or (b) use of any inventory management method recognised in the Generally Accepted Accounting Principles if the fungible good goods or material is materials are commingled, provided that the inventory management method selected is used throughout the fiscal year of the person that selected the inventory management method.