Answered: Last In First Out (LIFO) method…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3 -

Last In First Out (LIFO) method according to the S approximate amount of disposable Merchandise Cost Which of the following?

33,480 TL

43,200 TL

NS)

64,800 TL

49,800 TL

TO)

36,549 TL

4 -

In which of the following accounts , increases are recorded on the credit side of the relevant account and decreases are recorded on the debit side of the relevant account ?

a)	Active Regulatory Accounts

B)	Active Account

NS)	Expense Accounts

D)	Passive Regulatory Accounts

TO)	Cost Calculations

Unit price
Date
explanation
Quantity
5 TL
1 April--
6th of April
12 April
21st of April
April 27
Buying
Buying
Sales
1.000 kg
4.000 kg
2.400 kg
5.000 kg
4.000 kg
7 TL
12 TL
Buying
Sales

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