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Which inventory pricing method is being used when a company recalculates inventory prices every time a new item is added to the inventory?
Weighted Average
What is an example of an inventory accounting policy that should be disclosed in a summary of significant accounting policies is what?
Method used for inventory pricing.
What is the difference between target costing and cost-plus pricing?
Target Costing: It is the costing process in which company tries to reduces all costs of product to limit the selling price at specific targeted selling price. Cost Plus pricing: It is pricing method in which company uses all costs plus certain percentage of that cost as a profit margin to set selling price.
What are the advantages of direct costing and absorption coting?
Direct costing, or variable costing, offers advantages such as clearer insights into variable costs and better decision-making for short-term pricing and production since it excludes fixed overheads. Conversely, absorption costing includes all manufacturing costs, providing a comprehensive view of product profitability, which can be beneficial for financial reporting and inventory valuation. While direct costing aids in operational efficiency, absorption costing aligns with external reporting requirements and can influence inventory management strategies. Both methods serve distinct purposes depending on managerial needs and regulatory compliance.
What do you mean by transfer pricing?
transfer pricing is in the case of transferred with in the organisation the pricing of contribution for assets ,
An inventory pricing procedure in which the oldest costs incurred rarely have an effect on the ending inventory valuation is?
FIFO
Does inventory affect paper pricing?
Inventory adjustments can produce large swings in paper pricing
What is the difference between GAAP costing and IFRS costing?
There are several costing items that has change in the adoption of IFRS, for in GAAP the stock valuation or material pricing adopted is LIFO and FIFO but in IFRS only FIFO is adopted etc
What term is there for a difference between Bid and Ask pricing measured in pips?
Measured in pips, spread is the term used for a difference between bid and ask pricing. This is the cost of an order placement for a trader.
What is the difference between the PLU and SKU?
PLU (Price Look-Up) codes are used to identify specific types of produce at grocery stores, primarily for inventory and pricing purposes. SKU (Stock Keeping Unit) codes are unique identifiers assigned to products by retailers to track inventory levels and sales. SKUs are used for a wider range of products beyond just produce.
An inventory turnover analisis is useful to the auditor because it may detect what?
inadequate in inventory pricing
What evp system means?
Estate Valuation Pricing Systems - its a program
What is the function of bar code system of receiving?
inventory and pricing
Which inventory pricing method is being used when a company recalculates inventory prices every time a new item is added to the inventory?
Weighted Average
What is the valuation of a financial asset based on?
In finance, valuation is the process of estimating what something is worth. The valuation of a financial asset is based on the absolute value, relative value, or option pricing models.
What is the difference in Net and gross pricing in construction?
What is the difference in Net and gross pricing in construction?
What is an example of an inventory accounting policy that should be disclosed in a summary of significant accounting policies is what?
Method used for inventory pricing.
