Accountancy, asked by sojibiju2069, 7 months ago

Explain briefly thr procedure for the valuation of work in progress

Answers

Answered by swethaadapa1010

Answer:

Valuation of Work-in-Progress under Average Method:

Cost of opening inventory is added to cost incurred during inventory current period element wise. Thus under average method the average process cost is obtained by adding the cost of opening WIP and current cost and dividing the total by total equivalent units.

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