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متابعة

The best inventory method to adopt for a company that sells a product in large quantities, for example nails, would be?

a. FIFO, b. LIFO, c. Average Cost, d. Specific Cost.

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تم إضافة السؤال من قبل Anil Lalwani , Chief Accountant , Al Ahli Hospital
تاريخ النشر: 2016/10/16
Wilfredo Quito
من قبل Wilfredo Quito , Accounting Manager , DDC LAND INC.

Thanks for invitations:

Bothe methods can be used FIFO or LIFO  or weighted average

Masooma Akhtar
من قبل Masooma Akhtar

FIFO and LIFO both are best to sell a product in large quantities.

 

mohamed Hakim CMA CPA Candidate
من قبل mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

thanks for invitation 

all methods can be used FIFO or LIFO  or weighted average

i can not say best one ,,  

it depends upon Company system and management Vision 

Tamer Elbeshbishy
من قبل Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

Thank you for the invitation:

I can see in the nails, an ordinary item that do not affected largely by inflation or has no expire date.

In this case I can see many method can be used but we need to know it is a  manufacturing or a trding company ?? Raw materials are imported or from local market ? The decision could be better if we know more details

Thank you