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D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer?.

Solutions for D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice D Company, a dealer in cosmetics, records its inventory under first-in-first-out method, so as to minimize accumulation of outdated stock. The opening stock as on September 01, 2005 is 150 units at the rate of Rs.20 per unit. The purchases and sales made during the month are:Purchases:With effect from September 01, 2005, the company decided to change the method of inventory valuation from the FIFO method to LIFO method. The change in the value of inventory consequent upon the change in the method of valuation isa)Increase in the value of closing stock by Rs.250.b)Decrease in the value of closing stock by Rs.250.c)Increase in the value of closing stock by Rs.500.d)Decrease in the value of closing stock by Rs.500.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.