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fifo- first in first out
lifo- last in last out
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∙ 11y ago
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What are the main methods of checking stock?
3 basic methods for checking stock:lContinuous / perpetual stock checkinglPeriodic stock checkinglSpot checking
What are the methods of inventory management?
Methods of Inventory Management include cycle counting, reviewing stock and incorporating ABC Analysis. By utilizing all of these methods will help keep inventory accurate and profitable.
How do you calculate cost of goods sold using sales and mark up?
There are different methods of calculating cost of goods sold... but i will show you two methods which are widely used for this purpose...i always prefer "ULTIMATE BOOK OF ACCOUNTANCY" to the teachers and to the students.... published by vishvas publicationsAns : Cost of goods sold =Net Sales - Gross ProfitNet Sales = Sales - Sales return or return inwardORCost of goods sold =Opening stock + Net purchases + direct expense - closing stock
What's the double entry when you buy stock?
First Answer : Debit an account called investments and credit an account called Cash (or a payable) Second Answer : The first answer is referring to buying of Stocks (as in Shares like those listed on a Stock Exchange). If you are thinking of stock such as raw materials of a business or stock for resale (- e.g. an electrical appliance store purchases TVs for resale therefore the TV is their stock) than there is actually NO DOUBLE ENTRY because there is NO SUCH THING as a STOCK ACCOUNT. Stock is recorded using a physical record in and out. This gives rise to different stock valuation methods (FIFO, LIFO, AVERAGE). Why is there no STOCK ACCOUNT in double-entry? Because you buy something for say £10, you will want to sell it for a higher price, say £15 to make a profit. If you have a Stock Account, it will not balance. So how is "stock" recorded in your standard double-entry system? "Stock" is actually recorded using 4 accounts:- Increase in Stock Purchases A/C Return Inwards A/C Decrease in Stock Sales A/C Return Outwards A/C The balancing is done at the year end through your Profit and Loss A/C. The difference is your "Profit or Loss".
What are the methods of tax planning?
Tax planning methods for small business include accounting methods and validation methods. Other methods include the accrual method and inventory valuation methods.
What are the two methods of charging a body?
Charging by friction and charging by induction (works only for conductors)
Which of the three main methods of charging an object involves no touching?
Charging by induction.
What methods has the highest finance charge?
Charging the previous balance
What methods besides weighing and measuring are use for charging systems?
subcooling methods
Which of these methods has the highest finance charge charging a flat rate fee charging the unpaid balance charging the previous balance charging the average daily balance?
Charging the previous balance
What are the main methods of checking stock?
3 basic methods for checking stock:lContinuous / perpetual stock checkinglPeriodic stock checkinglSpot checking
What are the three methods of charging objects?
Friction Induction Conduction
What two methods of charging involve touching?
Friction and Contact
What are three main methods of charging objects?
conduction, induction, and friction
3 methods of charging neutral objects?
conduction, induction, and friction
Is Charging Bull in Central Park?
I think the only one is down by Wall St. and the Stock exchange.
What is the stock alternator voltage on a 1996 Cherokee Sport?
Normal charging range is 13.0 to 14.5 volts
