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    shweta gawankar's Avatar
    shweta gawankar Posts: 5, Reputation: 1
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    #1

    Aug 2, 2012, 07:03 AM
    What would be the entry when we pay off the credit?
    What are the different methods of valuating stock i.e last in first out & first in first out?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Aug 2, 2012, 05:38 PM
    One question at atime, if you caption the question the same you can't expect an answer

    There are many methods depending upon how you acquired the stock and your financial policies all overridden by the lower of cost, market or replacement principle.

    FIFO, LIFO, Average Cost, Actual Cost, Standard Cost, Direct Cost so you will find detaled explanations of these in your text

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