1. Acceptable inventory costing methods include:A)LIFO method.B)FIFO method.C)Lower of cost or market method.D)A & B.E)A B & C.2. A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2 they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8 8 units were sold for $55 each. Using the LIFO perpetual inventory method what was the value of the inventory on November 8 after the sale?A)$304B)$296C)$288D)$280E)$2763.A company has inventory of 10 units at a cost of $10 each on June 1. On June 3 it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method what is the cost of the 12 units that were soldA)$120.B)$124.C)$128.D)$130.E)$1404.Generally accepted accounting principles require that the inventory of a company be reported at:A)Market value.B)Historical Cost.C)Lower of cost or market.D)Replacement cost.E)Retail value.
Uncategorized
BENCHMARK – EFFECTS OF CHILDHOOD TRAUMA WORKSHEET
Academic Level University Subject Healthcare Type of Paper Other (Not listed) Paper Format APA Assessment Traits Benchmark Requires Lopeswrite Assessment Description Complete the “Effects of Childhood Trauma Worksheet” document attached. While APA format is not Read more…