LIFO, which stands for Last-In, First-Out, is the costing method used if the receipt cost of the items that are the newest in stock is required. This method assumes that the most recently acquired items are the first to be sold or used, hence the cost of the newest items is taken as the cost of inventory.

When an approved work order has been assigned an incorrect job plan, the correct action is to create a follow-up work order with the correct job plan. This approach ensures that the initial work order remains intact, and necessary adjustments can be made in the follow-up work order without violating system constraints that make fields or actions read-only once the work order is approved.

The feature allowing a new job plan to reference an existing job plan so that the data in the existing job plan is available without re-entering it is called 'Nested job plans.' This enables the incorporation of predefined tasks and information from one job plan into another, maintaining consistency and saving time by avoiding duplicate data entry.

To assign the work order to the environmental inspector using the custom field, the appropriate type of role is a set of data related to the record. This is because the custom field specifically identifies the inspector for environmental impacts, and roles can utilize this data to make the assignment based on the contents of the field.

For a supervisor to report actual work hours by work order number, the work order typically needs to be in a status where work can be actively tracked or has been completed. The 'INPRG' status indicates that the work is in progress, allowing for real-time tracking of actual work hours. Similarly, the 'COMPLETE' status indicates that the work has been finished, and the total actual work hours can be reported. Therefore, these two statuses (INPRG and COMPLETE) are appropriate for reporting actual work hours.