The following transactions were recorded for the years 2016 to 2020: Year Spare parts  (units) Total cost  (K) 2016 1,000 120,000 2017 1,600 240,000 2018 2,200 473,000 2019 2,000 480,000 2020 2,500 520,000 Required: Calculate the total cost in the year 2021 assuming that APEL had 2,175 units.                   Describe (Four) different cost behaviours.

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.