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Material cost
If it's clearly mentioned that material is returned from m & co why to take price of latest issue??
Answers (3)
There is no specific identification of material when it comes to FIFO method.
In the question itself it's clearly mentioned that material is returned from m & co..
In the question itself it's clearly mentioned that material is returned from m & co..
but when we follow FIFO, we do not identify it to a specific issue or return.