Question

Illustration 1.
From the following information, find out purchases.
Raw material consumed = 26,500.
Closing Stock = 34,500
Opening Stock = 3,000​

Answer 1

Answer:

To Opening Stock 3000 By Consumption 26500

To Purchases 58000 By Closing Stock 34500

(Balancing figure)

61000 61000

Answer 2

cost accounting .

Explanation:

The written down value of the abandoned plant less its salvage value is

Imputed cost

Sunk cost

Historical cost

Marginal cost