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Stock Valuation FIFO & Weighted Average Method

FIFO METHOD:

This method assume that the items received first are issued (Sold or consumed) first, So that the latest items are in Stock. In this method, an issue is valued at the oldest rate, while the closing stock is valued at the latest rate. The FIFO Formula assumes that the items of inventory which were purchased or produced first are consumed or sold first.

WEIGHTED METHOD:

Under the weighted Average Cost Formula, the cost of each item is determined from the weighted average of the cost of similar items purchased or produced during the period.

Note – This course would be active for 1 Month only from the date of enrollment.

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