How do Blue Apron meals work? Blue Apron is a fresh ingredient and recipe delivery service that helps chefs of all levels cook incredible meals at home. We take care of the menu planning and shopping (providing you with fresh, locally sourced ingredients in pre-measured quantities), so all you have to do is cook and enjoy (please note: our blog is full of helpful tips that will help you cook with speed and ease).
IAS 2 is an international financial reporting standard produced and disseminated by the International Accounting Standards Board (IASB) to provide guidance on the valuation and classification of Inventories.AS 2 also requires the use of First-in, First-out (FIFO) principle whereby the items which have been in stock the longest are considered to be the items that are being used first, ensuring those items which are held in inventory at the reporting date are valued at the most recent price.
Average Cost (AVCO) Method. Average cost method (AVCO) calculates the cost of ending inventory and cost of goods sold for a period on the basis of weighted average cost per unit of inventory. Weighted average cost per unit is calculated using the following formula: Like FIFO and LIFO methods, AVCO is also applied differently in periodic inventory system and perpetual inventory system. In periodic inventory system, weighted average cost per unit is calculated for the entire class of inventory.