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Q. Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin?
Number of Units
Price per Unit
Beginning inventory
10
1
Purchases
12
3
Sales
15
Ending inventory
7
L ABOUR VARIANCES Labour Cost Variance (LCV) Described by the ICMA, London, 'Labour cost variance is the variation between the standard direct wages specified for the pro
annual usage rs 160000@ 40 per unit, cost of placing and receiving one order rs 200:annual carrying cost ; 25% of inventory value
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importance of classifying cost accounting
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