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Chapter Intro
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Meaning of Inventory
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Type of Accounts in Financial Accounting
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Inventory Valuation
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Significance of Inventory Valuation - Income & Financial Position-
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Basis of Inventory Valuation
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Inventory Record System - Overview
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Periodic Inventory System
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Perpetual Inventory System-
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Distinction Between Periodic Inventory System And Prepetual Inventory System
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Methods to Determine Cost-
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Exaple - Specific Identification Method-
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Solution (FIFO)
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LIFO Method - Example 3
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Weighted Average Price Method
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Non-Historical Cost Methods-
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B) Standard cost method
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Introduction of Computerized Accounting & Meaning
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Components of Computerized Accounting Systems
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Manual vs Computerized Accounting - Core Processes
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Advantages of Computerized Accounting System
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Limitations of Computerized Accounting System
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Sourcing of Accounting Software
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Generic Considerations before Sourcing an Accounting Software
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Illustration 1- The following are the details of a spare part of Mr.Royal
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Illustration 2
