I love the calculation of the invoice that is to say, (9,800*12*20/360)-200(65-33-200)= $134.67. Very enjoyable lesson to me. This topic is need a person who having mathematics background.
the Process Costing
what's Overview of Cost Accounting?
What's the advantage of costing goods at the lower of inventory value?
pros 1. It improve tax benefits and cash flows 2. It matches most recent costs against current revenues in calculation of inventory cost
what is the meaning of pro's and con's
- Module: Module 2: Measuring and Reporting Inventory - Topic: Pro’s and Con’s of the Four Costing Methods
the advantages and disadvantages of the four costing methods makes each one of them a reliable choice of costing inventory in the merchandising business hence easily adopted and supposedly used to value inventory in business. The cons of one method outweigh the pros' of another making it a better alternative over others.
Pro's-The weighted average method is best suited for an inventory that consists of homogenous products that are mixed together, for example iron or spring water. con's-The IRS has found some cons and therefore set up two conditions that companies must fulfill for getting the approval of using rolling average as approved for income tax reporting.