Material Cost Question:

Valuation of issues is a complex process because the material may be issued out of various lots which might have been purchased at various prices. Following methods are used for this purpose:

- First in First out(FIFO)
- Last in First out (LIFO)
- Average Price Method
- Simple Average Method
- Weighted Average Method
- Highest in First out
- Market Price
- Specific Price
- Standard Price