Under…………… method of pricing material issue the value of closing stock represents the current market price.

Related MCQs

• Under……………… method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock.
• ……………………method of pricing material issues provides a better matching of current costs with current revenues.
• Under the…………. method of pricing issues, stock is valued at historical price.
• If WIP opening stock is 10,000 units, work done in the period is 13,000 and WIP closing stock is 5,000 units. The equivalent completed unit during the period is:
• …………………….is a buffer stock level or safety stock level under which the stock should not be allowed to fall.
• The average stock level is………….. units if the maximum stock level is 2475 units and the minimum stock level is 855 units.
• When material prices fluctuate widely the method of pricing that gives a best result in
• …………………… method of pricing issues follows the principle that material received first are issued first.
• US GAAP allows FIFO, LIFO and Weighted average method to value stock?
• ‘Buffer stock’ is the level of stock