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Which cost price method prices materials at the actual purchase price when materials are purchased for a particular job or issues can be identified with a particular receipt?
  • a)
    Specified Price Method
  • b)
    First-in First-out (FIFO) Method
  • c)
    Last-in First-out (LIFO) Method
  • d)
    Highest-in First-out (HIFO) Method
Correct answer is option 'A'. Can you explain this answer?
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Which cost price method prices materials at the actual purchase price ...
The correct answer is Option A: Specified Price Method. This method prices materials at the actual purchase price when materials are purchased for a particular job or issues can be identified with a particular receipt. However, this method has limited application and is only suitable when prices are stable or materials are covered by price control orders.
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Which cost price method prices materials at the actual purchase price when materials are purchased for a particular job or issues can be identified with a particular receipt?a)Specified Price Methodb)First-in First-out (FIFO) Methodc)Last-in First-out (LIFO) Methodd)Highest-in First-out (HIFO) MethodCorrect answer is option 'A'. Can you explain this answer?
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