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  • The latest cost of inventories is changed to production but the old prices are changed to inventories on hand? #201
  • An increase in inventories indicates that? #202
  • Which type of inventory system is updated inventory system? #203
  • What is the principal criterion used to distinguish between tangible assets and inventories? #204
  • Which of the following method is suitable for calculating the cost of inventory when actual costs of individual units of merchandise can be determined from the accounting records? #205
  • The inventories are recorded at the latest price but the production cost is changed old cost price? #206
  • Which one of the following methods for inventory valuation may be misleading when the units are identical? #207
  • During September, Khan had sales of 148,000, which made a gross profit of 40,000. Purchases amounted to 100,000 and opening inventory was 34,000. The value of closing inventory was? #208
  • How do we describe the process of adjusting the value of an asset by recognizing that it is consumed in a way that does not completely eliminate the resource? #209
  • If the estimated amount of depreciation on equipment for a period is Rs. 2,000, the adjusting entry to record depreciation would be? #210
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