Under inflationary trend, FIFO method will result in showing the highest value of inventory because it assumes that the items that were purchased first are sold first. This means that the items remaining in inventory are assumed to have been purchased at more recent and higher prices, reflecting the rising costs due to inflation. As a result, the cost of goods sold is lower, and the ending inventory is higher, leading to a higher overall value of inventory.
A scheme, which aims at development of sustainable models of organic farming through a mix of traditional wisdom and modern science to ensur...
Consider the following statements regarding the bilateral fund launched by National Investment and Infrastructure Fund Limited (NIIF)-
I.The Nati...
Who has been named Time magazine's Athlete of the Year for 2023?
_______ has approved a USD 250 million (about Rs 1,875 crore) loan to support India’s National Industrial Corridor Development Program (NICDP).
Recently the Reserve Bank of India has imposed penalty on how many cooperatives banks?
Who was named Time Magzine’s 2021 Athlete of the Year?
Which Australian city has decided not to host the Commonwealth Games 2026?
What were the key objectives of the multi-sectoral workshop on "Risk-based management of spill over events in wildlife in India" organized by the Depart...
Which state has recently got the first IVF unit for animals in India?
Who is likely to inaugurate the 46th session of the UNESCO World Heritage Committee?