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Raw materials inventory of a company includes 1 Kg. of certain material purchased at Rs. 100 per Kg. The price of the material is on decline and replacement cost of the inventory at the year-end is Rs. 80 per Kg. It is possible to incorporate the material in a finished product. The conversion cost (wages and overheads) is Rs. 120.Inventory values for expected selling prices of the finished product.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9957482

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