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Answer Posted / ajay
There are 3 methods are used for calculation
closing stock value
A) FIFO:- FIRST IN FIRST OUT (APPLIED IN OUR COMPANY)
B) LIFO:- LAST IN FIRST OUT
C) WEIGHTED AVG:- TOTAL CLOSING STOCK QTY MULTIPLY
WITH LAST PURCHASE RATE.
| Is This Answer Correct ? | 87 Yes | 41 No |
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