Wednesday 9 October Answer

Today we have a question relating to the new 2019 syllabus for P1.

The question was:

Which of the following Inventory Valuation methods is not allowed by HMRC?

This question relates to ‘A: Cost accounting for decision and control’ and is a slightly different version of the question in one of our free mock exams.

The correct answer was Love, with…

LIFO

LIFO is not allowed – a little article from HMRC.

For more free questions use our Free CIMA Mock Exams for the 2019 syllabus use the menu above to access our little shop, at the same time you’ll have the option to upgrade to our + package which includes 50% more questions, feedback and both revision and timed assessment modes plus much more.

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