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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:SE
9 In the average cost method of stocktaking:
a the starting and closing stocks are added and the average
value found
b new stock is added and the average value found
c individual items are added and their average value found
d closing stock value is divided by the number of units in
stock
10 In computerised stocktaking items carry:
a a very small computer chip
b a reference number
c a bar code
d a special label
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