Materials requisition slips are costed

Name: Materials requisition slips are costed
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Materials requisition slips are used to requisition raw materials for production purposes. These slips are used to keep track of the amount of raw materials used in the production process. These slips are also used to cost the raw materials used in production. There are various inventory costing methods that can be used to cost the materials requisitioned on the slip, including FIFO, LIFO, and Average Cost methods.

Materials Requisition Slips Are Costed