IndigoLearn

Material cost

If it's clearly mentioned that material is returned from m & co why to take price of latest issue??

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Siva Kumar

Siva Kumar

CA Inter

715

03-Jan-21 21:25

15

Answers (3)

There is no specific identification of material when it comes to FIFO method.


Suraj Lakhotia

Suraj Lakhotia

Admin

04-Jan-21 15:34

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..


Siva Kumar

Siva Kumar

CA Inter

715

04-Jan-21 16:43

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.


Suraj Lakhotia

Suraj Lakhotia

Admin

04-Jan-21 17:58