Inventories -Test 5

under inflationary conditions ———-Method will show highest value of closing stock.

Inventories should be out of godown in the sequence in which they arrive is based on ———-

A minimum quantity of stock always held as precaution against out of stock situation is called ———-

Which inventory valuation method best matches the cost of goods sold with current replacement cost ?

Which of the following is not a method to determined inventory pricing ?

Which of the following is not a difference between LIFO and LIFO :

Which of the following shell form part of the cost of Inventory ?

From the following find out the correct equation if A represents opening stock, B represents purchases, C represents Closing stock, D represents cost of goods sold

Which of these is a feature of periodic Inventory method ?

Which of the following is a method to determine Inventory quantities?

What is LIFO method ?

What is FIFO method ?

A trader carries an average stock valued at cost price of Rs.40,000 and Inventory turnover five times per year if he marks his stock up by 25% on cost price.What is his gross profit for the year?

The costs of conversion of Inventories include ————

Which of the following do not constitute Inventories ?

Which of following methods results  in lower valuations of Inventory and Lower income when prices are rising ?

From the following details calculate opening stock

Sock turnover ration  6 times

Gross profit 20% on sales

Sales Rs.1,80,000

Closing stock is Rs.15,000 in excess of opening stock

The expenditure incurred in bringing the inventory to the place and the condition in which the goods concerned or to be sold is understood as ———–

Net realisable value in the case of finished goods (in the normal course and replacement price in the case of raw materials and chief stores is understood as

Which of following is not the purpose of the stock valuation ?

In Inventory valuation what does cost price mean ?

Cost of Inventories should comprise all costs of purchase costs of conversion and other costs incurred in bringing the inventories to their present location and conditions.this statement is ————-

Closing inventory is————

When prices are showing a rising trend which method of Inventory valuation will result in lower income and lower valuation of inventory ——

Which of the following method of pricing of materials is not based on actual cost of materials ?

In Inventory valuation what is the treatment of stock with customers on approval basis?

By-products should be valued at ————

A trader carries an average stock of Rs.40,000. His stock turnover in 8 times. If he sells goods at profit of 20% on sales . Find out his profit ?

The total cost of goods available  for sale with a company during the current year is Rs.12,00,000 and the total sales during the period are Rs.13,00,000. If the gross profit margin of the company is 33 1/3 on cost .The closing inventory during the current year is ———–

Which of following do not constitute inventories ?