举一反三
- Gross profit for 20X3 can be calculated from: A: Purchases for 20X3, plus inventory at 31 December 20X3, less inventory at 1 January 20X3 B: Purchases for 20X3, less inventory at 31 December 20X3, plus inventory at 1 January 20X3 C: Cost of goods sold during 20X3, plus sales during 20X3 D: Net profit for 20X3, plus expenses for 20X3
- Which of the following is the correct formula for cost of sales? A: Opening inventory – purchases + closing inventory B: Purchases – closing inventory + sales C: Opening inventory + closing inventory – purchases D: Opening inventory – closing inventory + purchases
- Beginning merchandise inventory plus the net cost of purchases is the merchandise available for sale.
- In calculating the quick ratio, the inventory portion is deducted from current assets and divided by current liabilities because ( )is the reason for this A: Inventory is not easy to keep B: The quality of inventory is difficult to guarantee C: Low liquidity of inventory D: The quantity of inventory should not be determined
- ( ) is in excess of their current need for a possible future event. A: safety stock B: speculative inventory
内容
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Inventory turnover can be<br/>calculated by: () A: adding beginning and ending<br/>inventory; divide by two B: dividing the cost of goods<br/>sold by average inventory C: dividing average inventory<br/>by the cost of goods sold D: multiplying average<br/>inventory by 1.5
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(3) Which one of the following statement is NOT correct? A: Periodic inventory system is more expensive to operate and less common. B: Perpetual inventory system could help discover pilferage more quickly owing to frequent counts. C: In periodic inventory system, inventory account is update only periodically via period- end inventory count. D: Periodic inventory system might lead to lost sales.
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Translate the following special terms into Chinese. "perpetual inventory system 、periodic inventory system "
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Beginning merchandise inventory plus the net cost of purchases is the merchandise available for sale. A: 正确 B: 错误
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Merchandise inventory:（ ）。 A: neither is the cost of inventory that has been sold or is an expense on the income statement B: both is the cost of inventory that has been sold and is an expense on the income statement C: is an expense on the income statement D: is the cost of inventory that has been sold