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Question What is prime cost (A) Total direct cost only (B) Total Indirect production cost (C) Total non-production cost (D) Total Production cost. If the

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What is prime cost (A) Total direct cost only (B) Total Indirect production cost (C) Total non-production cost (D) Total Production cost. If the raw material price is affected by inflation, which of the following methods of valuing stocks will give the lowest gross profit? (A) FIFO (B) Simple average (C) LIFO (D) Replacement Cost

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