List out the different methods of costing and explain their practical application

First, this is a homework question and not just a question you are asking, meaning you need to read the guidelines for posting homework, which is the big red stickie at the top of the page. Make an attempt to answer the question yourself, post that, and then someone can guide you. We are not here to simply do your work.

Also, you've taken that out of context, making it difficult to know what you're referring to. Cost accounting is a subject unto itself and involves a lot of "costing." Perhaps a chapter title would help.