Question: Explain the measurement of inventory. When is specific identification method appropriate in determining cost of invenories? . Explain briefly the following cost formulas; a. FIFO

  1. Explain the measurement of inventory.
  2. When is specific identification method appropriate in determining cost of invenories?
  3. . Explain briefly the following cost formulas; a. FIFO b. weighted average c. specific
  4. What is the reason for writing down inventories below
  5. Explain the two methods of accounting for inventory write-down
  6. When a loss or gain on purchase commitment is recog

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