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Last in first out or LIFO
LIFO is based upon the assumption such the stock purchased last is issued first. Stock valuation should here be based upon the prices ruling on acquisition of last stocks.
1. Product costs tend to be based upon recent market prices and are thus realistic.
2. A charge to production is like closely concern to current price levels like possible
1. Stocks are valued at the oldest prices.
2. This includes tedious calculations whether the price of materials fluctuates from time to time.
3. Comparison of one job along with another may be difficult and unfair.
I'm having a hard time with this, can you please help? I know the dates are imparative also in finding the solution. Stevens purchased an auto on Jan 1, 2001. On December 31, 2003
A soft drink maker wants to expand into a neighboring country. They want the product bottled in that country to avoid political issues and to enhance the local image of the produc
Evaluate the discounted mean term (DMT) of a bond redeemable at $120 nominal in 15 years time with annual coupons of 7% (based on a nominal bond of $100) at interest rates of 6% ,
Direct Labour Budget It represents the forecasts of indirect and direct labour requirements to meet the demands of the company throughout the budget period. Therefore the budg
1. Why are marginal costs increasing? Why are they not always constant? You may give examples in some industries or just state two reasons at least.
Winston Duff is planning to borrow $225,000 to purchase a new home. Mr. Duff is considering two fixed-rate financing alternatives offered by Horsepen Creek State Bank. The first
full explanation on cost concept and classification
Estimate Fixed Overhead Variances Referring to data, we can estimate the fixed overhead variances as given below: Budget for December 2003;
Specific Order Costing This is a broad costing system that is applicable where work jobs consist of separate jobs, batches or contracts. Every job or contract or batch is a c
features of absorption costing
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