- 1 Marks
FA – Nov 2011 – L1 – SA – Q9 – Partnership Accounts
This question asks how the cost of raw materials consumed is calculated in a manufacturing account.
Question
Which of the following formulae determines the cost of raw materials consumed in a Manufacturing Account?
A. Opening stock plus purchases less closing stock
B. Purchases plus closing stock less opening stock
C. Cost of raw materials available plus closing stock
D. Cost of raw materials available plus opening stock
E. Opening stock plus net purchases less closing stock
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