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Syllabus C1a. Accounting for material

Syllabus C1a

Accounting for material 1 / 11

a) Accounting for materials

(i) Ordering, receiving and issuing of materials from inventory.
(ii) Control procedures used to monitor physical and ‘book’ inventory.
(iii) Material inventory account.
(ix) Value of closing inventory and material issues using LIFO, FIFO and average methods.