Give an example of a type of inventory for which each cost formula might be used LINK TO TEXT Give an example of a...

Question

Question

Give an example of a type of inventory for which each cost formula might be used LINK TO TEXT

Answer 1

Answer #1

	Type of Inventory:		Finished Goods

	Formula:

	(Units of goods produced - Units of goods sold) x Cost per unit of Production			xxx
Add:	Opening Stock of Finished Goods (if any, from previous year)			xxx
		Current Year Finished Goods		xxx

Answer 2

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