Question: Please answer 1-Opening work in process inventory can be calculated as under FIFO and Average costing LIFO and Average costing FIFO and LIFO costing None

Please answer

1-Opening work in process inventory can be calculated as under

FIFO and Average costing

LIFO and Average costing

FIFO and LIFO costing

None of given option.

2-Which of the following statement measures the financial position of the entity on particular time?

Income Statement

Balance Sheet

Cash Flow Statement

Statement of Retained Earning

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