Question
Which inventory costing formula calculates value of
closing inventory considering that inventory most recently purchased has not been sold?Solution
FIFO (First In First Out) assumes that older inventory is sold first. Thus, the closing inventory consists of the most recently purchased goods, which have not been sold. LIFO does the opposite, and weighted average blends cost.
Statements: Z = Y ≥ X > W, Q > O = P ≥ I, W ≥ V ≥ U = Q
Conclusions:
I. Z ≥ Q
II. I ≤ W
III. X > P
Statements:
P > Q < R; T ≤ U ≤ Q > S; V ≤ W < T
Conclusions:
I). P > V
II). T = S
III). R > V
...Statement: N < M; G ≤ V = M; J > V; K ≥ M
Conclusion:
I. J > K
II. K ≥ J
In the question, assuming the given statements to be true, find which of the conclusion (s) among given three conclusions is/are definitely true and th...
Statement: T > B = P `>=` C ; B `>=` J > F; O `<=` J `<=` C
Conclusions: I. J < T II. T > F
...Statements: F > G = J ≤ I = L > M ≥ K = N
Conclusion
I: N < I
II: L ≥ G
Statements: W > O > E ≤ N > P; L ≥ U; P > Q = R > U
Conclusions:
I. N > U
II. P > U
III. P < L
IV....
In the question, assuming the given statements to be true, find which of the conclusion (s) among given two conclusions is /are definitely true and the...
Statements: R < S ≤ T = U; V ≤ W = R; P > U ≥ Q
Conclusions:
I. V < T
II. P > W
III. Q < TIn the following questions assuming the given statements to be true, find which of the conclusion among given conclusions is/are definitely true and th...
