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The following data relates to material H.If the FIFO method of valuation is used, what is the value of the issue on 15 June?

A. $675
B. $696
C. $750
D. $756

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The following data relates to material CTF.If the LIFO method of valuation is used, what is the value of the closing inventory balance at the end of April?

A. $390
B. $1,141
C. $1,266
D. $1,641

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Cloudy Co bought $200,000 worth of raw materials and issued $150,000 to production.Which TWO of the following are the correct bookkeeping entries?

A. Dr Raw materials, $200,000, Cr Bank, $200,000
B. Dr Work-in-progress, $150,000, Cr Raw materials, $150,000
C. Dr Raw materials, $150,000, Cr Work in progress, $150,000
Dr Bank, $200,000, Cr Raw materials, $200,000

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Which of the following statements concerning inventory management is TRUE?

A. Continuous stocktaking involves frequent counts and checks on a proportion of the inventory items
B. For management accounts we must use the first in first out (FIFO) valuation method
C. Value of closing inventory + cost of goods produced - value of opening inventory = cost of sales
D. Setting a maximum control level seeks to ensure that a stockout does not occur

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Hotel Specialle has 40 rooms. Total costs for June were $456,000 and there was a 95% occupancy rate.What was the cost per room per day?

A. $361
B. $380
C. $400
D. $15,200

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The following data relates to material H.If the FIFO method of valuation is used, what is the value of the issue on 15 June?

A. $675 B. $696 C. $750 D. $756

The following data relates to material CTF.If the LIFO method of valuation is used, what is the value of the closing inventory balance at the end of April?

Cloudy Co bought $200,000 worth of raw materials and issued $150,000 to production.Which TWO of the following are the correct bookkeeping entries?

Which of the following statements concerning inventory management is TRUE?

Hotel Specialle has 40 rooms. Total costs for June were $456,000 and there was a 95% occupancy rate.What was the cost per room per day?

A. $675
B. $696
C. $750
D. $756