The following information relates to raw material X. Under the FIFO method of inventory valuation, what is the value of the issue on 7 January?
A. $420
B. $350
C. $400
D. $280
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A company has 200 kilograms of raw material in inventory. 120kg of this inventory has been allocated to a customer order. The company are waiting for delivery of 50kg of material which has been ordered but has not yet been received from the supplier. What is the free inventory?
A. 130kg
B. 30kg
C. 250kg
D. 270kg
An organisation uses the following coding system. Which type of coding system is this?
A. Block
B. Sequential
C. Hierarchical
D. Mnemonic
An organisation uses the following coding system. Which type of coding system is this?
A. Mnemonic
B. Sequential
C. Hierarchical
D. Faceted
Two statements relating to inventory follow. Is each statement true or false?
A. Statement 1 is true, Statement 2 is false
Both statements are true
C. Statement 1 is false, Statement 2 is true
D. Both statements are false