Answer Posted / maheshwari

FIFO method means first in first out -
example purchase:- Rate of inventory . Unit Amount
1st purchase 80 100 8000
2nd purchase 70 100 7000
so when you what to issue 150unit of goods then you have to issues 100 unit of Rs. 80 & 50 unit of 70 Rs.
sell 80 100 8000
70 50 3500

& Weighted average method =
cost of available material / Quantity of available material
As above example 2nd purchase cost is calculated as,
We have Cost of available material = 80*100 + 70*100
= 8000 + 7000 = 15000
& Quantity of available material = 100 + 100 = 200
Weighted Average cost = 15000/200
= 75 Rs.
then 2nd purchase cost is calculated = 100 unit @ 75Rs.

what is bond wash transaction ,when we have to use it, and what is the procedure please help me with examle

2110

---

If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes

2580

---

Describe me accounting rules

1918

---

What is tally accounting?

1124

---

Explain what is accrual accounting?

1051

---

How to post advance paid to a supplier in oracle jd edwards

1693

---

all ques. related to accounts?

2137

---

What are control ledgers? What are the purposes of maintaining it?

1149

---

wht is different between defered tax liablities and defered tax assets??????

1860

---

Explain me is any difference between inactive and dormant accounts?

1053

---

what are the different types of expenditures considered for the purpose of accounting?

1054

---

Explain fictitious assets?

1037

---

Dillution effect on EPS

2432

---

while preparing insolvency account deficiency account is wich account? why we do not prepare it with general rules?

3318

---

Explain me where a cash discount should be recorded in journal entry?

3978

---