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Perpetual Inventory Control

Perpetual inventory is a method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software. […]

Material Cost Accounting

Material cost is the cost of materials used to manufacture a product or provide a service. Excluded from the material cost is all indirect materials, such as cleaning supplies used […]

Preparation of Cost Sheet

A cost sheet shows every expense involved in creating a product. Companies and contractors prepare cost sheets to show clients how much money it costs to provide services, perform repairs […]

Classification of Cost

The following points highlight the five main types of classification of costs. 1. Cost Classification by Nature 2. Cost Classification in Relation to Cost Centre 3. Cost Classification by Time […]

Objective Of Cost Accounting

Cost accounting is the classifying, recording and appropriate allocation of expenditure for the determination of the costs of products or services, and for the presentation of suitably arranged data for […]

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