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aliya0001 [1]
3 years ago
11

The two most widely used methods for determining the cost of inventory are

Business
1 answer:
harina [27]3 years ago
7 0
The two most widely used methods for determining the cost of inventory are <span>FIFO and LIFO.</span>
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Answer:

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3 years ago
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The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also avail
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Answer:

There will be a difference in the income .

Absorption costing income will be lower as it transfers all the fixed costs to the ending inventory.

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Explanation:

Increase in units 8000                                                              

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Unit manufacturing costs of the period $24.00 $10.00

Unit operating expenses of the period    8.00       3.00

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The net operating income under variable costing for the year will be $ 13* 8000= $ 104000 Lower than the net operating income under  absorption costing.  This is because the all fixed costs will be treated as period cost rather than product costs.

In variable costing the ending inventory will be $104000 lower than the ending inventory under absorption costing  because the fixed costs will not be allocated to products.

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3 years ago
For commodity X, average cost is equal to marginal cost at every level of output. Assuming that the market for X is competitive
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Answer:

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