Question

13. What are the implications of PRACTICAL PROBLEMS (A) FIFO Method 1. At the beginning of October 2014, Quality Brush company had in inventory 10,000 bre valued at * 10 each. Further purchases were made during the month as follows: 7th October 4,000 Brushes @ * 12.50 14th October 6,000 Brushes @ * 15.00 24th October 8,000 Brushes @ * 16.50 Issues to shop floor were as follows: 16th October 16,000 Brushes 28th October 10,000 Brushes You are required to compute the value of closing inventory on the basis of First-in-Firs. (FIFO) method.​

Answer 1

Answer-

The outcome or end result that occurs when specific events take place is known as the practical implication.

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