Methods of Valuation of Inventories
Given are the tactics of estimating material issues which are generally observed.
- Net Realisable Value (NRV) method
- Standard price method
- Average costing technique
- Base stock process
- Market price technique
- Last in, first out (LIFO) method
- Inflated price process
- Specific price technique
- First in, First out (FIFO) method
- Highest in, first out (HIFO) technique
- Replacement value tactic
Links of Previous Main Topic:-
- Introduction to accounting and branches of accounting
- Preparation of final accounts
- Introduction of fund flow statement
- Introduction cash flow statement
- Ratio analysis significance of ratio analysis
- Fixed assets and depreciation meaning causes objectives methods and basic factor
- Cost accounting concept objectives advantages limitations general principles and cost sheet
- Job costing
- Introduction process costing
- Activity based costing introduction concept and classification
- Introduction inventory pricing and valuation
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