FIFO inventory costing method generally results in the most recent costs being assigned to ending inventory.
Inventory costing also referred to as stock cost accounting is when groups assign expenses to merchandise. these fees additionally consist of incidental costs consisting of the garage, management, and market fluctuation.
Stock price control has many aspects, such as financing, device, labor, shielding measures, coverage, handling, obsolescence, losses via pilferage, and the possible value of selecting to deal with an inventory. these elements all integrate to create the full price of conserving inventory costs.
The inventory cost method consists of starting stock cost, ending inventory cost, and purchase expenses over a fixed time period. more succinctly, it seems like: stock cost = [beginning inventory + inventory purchases] - finishing stock.
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Answer:
Re-order time 1 month
Explanation:
EOQ = 
D= 450 units
S=10
H=30%
EOQ=
= 39 units
Number of units D/EOQ = 450/39 = 12
re-order time = total period / Number of orders = 1 year /12
= 1 month
I would not change any specific company accounts before you in order to increase the company's figures.
<h3>
What is an accountant?</h3>
- An accountant is a person who practices accounting or accountancy.
- Accountants who have passed their professional associations' certification tests can use titles like Chartered Accountant, Chartered Certified Accountant, Certified Public Accountant, or Registered Public Accountant.
- Statute grants such professionals certain responsibilities, such as the ability to certify an organization's financial statements, and they may be held liable for professional misconduct.
- Non-qualified accountants may work for a qualified accountant or independently, with no legislative privileges or obligations.
As I am 100% honest with my work and work under ethics so I would not change any specific company accounts before you in order to increase the company's figures.
Therefore, I would not change any specific company accounts before you in order to increase the company's figures.
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Answer:
The correct option is C.
Explanation:
Based on<em> IFRS 15 Revenue from Contracts</em> <em>with Customers:</em>
- a contract is an agreement between two or more parties that creates enforceable rights and obligations.
- revenue is an income arising in the course of an entity's ordinary activities.
The recognition of income arising from the supply of garbage bins and cleaning services is<em> bona fide</em>, since the two services are in the company's ordinary activities.
- When the supply of the garbage bins took place, delivery took place and ownership has been transferred to the client, so Binz Company can recognize the income as earned.
- The contract for 5-year cleaning services has to be recognized over the service year in line with accrual principle in accounting.
