1.Closing Inventory consists of 1,100 units. What
would be the cost of Closing Inventory under FIFO and LIFO
Opening Inventory 1000 units @ $
10 $ 10,000
Purchase (1) 800 units @ $
11 $ 8,800
Purchase (2) 500 units @ $
14 $ 7,000
Purchase (3) 400 units @ $
12 $ 4,800
Purchase (4) 300 units @ $
13 $ 3,900
Totals 3000 units
Answer / haalubari
|Is This Answer Correct ?||0 Yes||0 No|
What is a Goods Receipt
Which type of stock show in trail balance. Op. Stock or Cl. Stock & Why?
my brother is out of country i have lost his bank passbook when i was going to bank for the entries is their essential to take duplicate pass book can my brother is present for this.
Under which Act( Com/IT) depreciation debit to P & L ?
difference between outstanding and accrued exp.?
What is deferred tax asset or libility ? please help with the best one answer u have. thanks all
Can u please give me a proper example of how genral entries of depreciation are recorded like if depreciation expense is ONE HUNDRED and acc.dep is two hundred how we will record that?
What is mean by authorized capital of company.?
Different ways to Query the Invoices
When their is one pick point and four unloading places with in same district their is need to write four number of way biils
how to calculate the deferred tax liability & what will be the entry for the same
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances