The following are the Advantages of LIFO Method:
What are the Advantages and Disadvantages of LIFO Method in Cost Accounting?
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What is LIFO Method in Cost Accounting?
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As against the First in First Out method the issues under this method are priced in the reverse order of purchases i.e., the price of the latest available consignment is taken.
What are the advantages & disadvantages of FIFO Method Cost Accounting?
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The following are the main advantages of FIFO Method:
What do you mean by FIFO Method Cost Accounting?
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Under FIFO method material is first issued from the earliest consignment on hand and priced at the cost at which that consignment was placed in the stores.In other words, materials received first are issued first.
What are the difference between Bin Card & Store ledger?
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The Difference Between Bin Cars and Store Ledger.
What do you mean by Stores Ledger?
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This ledger is kept in the costing department and is identical with the bin card except that receipt, issues and balances are shown along with their money values.
Who is a store keeper? What are the duties & responsibility of a store keeper?
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Store keeper is the important person for the store. He is the in charge of the store department and also responsible for store control.
What are the main objective of material Control?
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The Main Objective of Material Control are as follows:
Essay on Famine
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Famine is a name of acute scarcity of food. It breaks out, when and where the crops fail. It is mainly due to the failure of crops.
Essay on The Flood
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Flood is a natural calamity. it makes a great devastation. But it is not as harmful as drought, cyclone and earthquake. Flood does some good to us.
Essay on The River
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River is one of the phenomena of nature. It is the maker and sustainer of the fertile plains. It is one of the natural means to carry water to us.
Essay on Spring Season
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Spring falls between Winter and Summer. It rules over the months of March and April. In India, it is honored as the King of the seasons.
Essay on Winter Season
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In India we count six seasons in all. Winter is one of them. Winter is the cold season of the year. Cold wind beings to blow since early November …
Essay on Dewy Season
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After Autumn, comes the Dewy Seasons. The Dewy Season is composed of November and December. It is called the Dewy Season…
Essay on Autumn Season
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In India, we count six seasons in a year. Autumn is one of them. It is composed of September and October. It comes after the Rainy Season.