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How each of the derived measurement have been used

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Hibiscus Ltd has recently completed its annual stocktake. Some employees physically counted the stock and found there were soon items on hand. Based on iF?S. the ?nance manager decided to use the FIFO method for-inventory valuation. The accountant then multiplied the number of Inventory items by the unit cost. The unit cost was determined from a computer worksheet.

Question 1: Briefly outline how each of the following have been used in the case above:

a] Derived measurement.

b] Flat measurement.

c] Fundamental measurement.

Reference no: EM132641471

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