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9.14 summary of inventory costs

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9.14 SUMMARY OF INVENTORY COSTS

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Page 1: 9.14 Summary of inventory costs

9.14

SUMMARY OF

INVENTORY COSTS

Page 2: 9.14 Summary of inventory costs

© Michael Allison, Trinity Grammar School. Author’s permission required for external use

9.14 SUMMARY OF INVENTORY COSTS

Valued using First in First Out (FIFO)

Valued at the lowest cost of stock on hand

(application of the conservatism principle)

Valued using First in First Out (FIFO)

Valued using First in First Out (FIFO)

Valued using First in First Out (FIFO)

Stock losses

Stock gains

Donations of stock

Withdrawal of stock

by owner

Sales of stock

Page 3: 9.14 Summary of inventory costs

© Michael Allison, Trinity Grammar School. Author’s permission required for external use

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Ex9.16 X

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