Paula has the following values of trading stock on hand as at 30 June 2022. Assuming she

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Paula has the following values of trading stock on hand as at 30 June 2022. Assuming she wishes to legally minimise her assessable income which values should she use

Cost using LIFO method of valuation $25800

Cost Using FIFO method of valuation $31200

Market selling value $ 28700

Cost using average cost method of valuation $30400

Replacement value $35600

which is correct? and why ? explain

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Financial Accounting

ISBN: 9781743767382

9th Edition

Authors: Craig Deegan

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Posted Date: Mar 05, 2024 10:19 AM

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Paula has the following values of trading stock on hand as at 30 June 2022. Assuming she

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Paula should use the LIFO lastin firstout method of valuation for her trading stock as this will leg... View the full answer

Financial Accounting

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