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what is LIFO method & procedure ? How you can calculate it ?
What is Fund flow ? & what is Cashflow method ? whais is
the use fund flow & cash flow in company?
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Answer / h.r. sreepada bhagi
LIFO(Last in First Out)-This is a method of valuation of
stock (Inventory), where in the latest price of goods
purchased is applied for valuing the inventory at any time.
This is applied only for valuation & not for use of
materials/goods for sale or consumption, as it is always on
FIFO, i.e. stock first received will be sold or consumed
first. There are other method of stock valuations as well -
FIFO9First in First Out), Average Price & Weighted Average
Price.
Funds Flow refers to movement of funds (Working Capital)
during a an accounting period (Month, Quarter, Half year or
year). This statement is prepared to know who the working is
utilised during the period and what is the position of funds
as at the close of that accounting period.
Cash Flow refers to movement of money (Receipts & payments)
during the specified accounting period. Cash-Flow Statement
helps in knowing opening position, receipts from various
sources, payments for various purposes and closing position
of cash & bank balance.
Both Cash-Flow & Funds-Flow help in formulation company's
future course of action & ensure no cash-crunch situation as
also optimum utilisation of available financial resources.
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Answer / kailas tulaskar
Very fine.
I have got satisfactory answer
| Is This Answer Correct ? | 2 Yes | 0 No |
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A prouduct passed through three stage of the production and product for each stage become the raw material for the new stage further raw material on also added at each stage . During the march 2000, 1000 unit of finishied prouduction produced with following expenditure. A B C material 10000 8000 4000 labour 8000 12000 6000 on cost 5000 4000 2000 inculuded expenses amount to 5200 and to be allocated on the bassis of labour main raw material issue to stage A was worth rs 6400\- prepare the procesing cost account with unit each stage and total cost finishied product the final stage.
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