…………………… method of pricing issues follows the principle that material received first are issued first.

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.
• Simple average method is based on the principle that materials issues should be valued at ………… average price.
• When material prices fluctuate widely the method of pricing that gives a best result in
• Under…………… method of pricing material issue the value of closing stock represents the current market price.
• Maintaining prompt and accurate records of all goods received, issued and returned is the duty of ……………..
• Weighted average method is a generally accepted accounting principle?
• …………………helps the management to eliminate inefficiencies caused by material wastage, use of obsolete machinery, improper planning etc.
• The cost of direct material is termed as…………..