1.Solve the following question: A. Why do companies adopt material control measures? Your discussion should...
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Accounting
1.Solve the following question:
A. Why do companies adopt material control measures? Your discussion should include the types and methods of material control adopted by manufacturing organisations. B. Using the following information under FIFO method, determine the cost of materials used and the cost of ending inventory for the month of July 2021. July 1,2021 Balance on hand, 1000 yards of linen @ OMR 4.000 each. 3 Issued 250 yards 5 Received 500 yards @ OMR 4.500 each 6 Issued 150 yards 10 Issued 110 yards 15 Received 500 yards @ OMR 5.500 each 20 Returned 300 yards to the vendor from July 15th Purchase 25 Issues 600 yards C. Patriot Oman predicts that it will use 360,000 kgs of materials during the year. The material is expected to cost OMR 5 per kg. Patriot Oman anticipates that it will cost OMR 72 to place each order. The annual carrying cost is OMR 4 per kg. Determine the Economic ordering quantity.
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