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

The echelon inventory at the distributor is equalto the inventory at the distributor, plus the inventory in transit to and in stock at theretailer.

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

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

(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.

Translate the following special terms into Chinese. "perpetual inventory system 、periodic inventory system "

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

When products are completed, A: Finished Goods Inventory is credited. B: Work in Process Inventory is credited. C: Cost of Goods Sold is debited. D: Work in Process Inventory is debited.

The perpetual inventory system:（ ）。 A: is used by most businesses. B: other three choices are true. C: keeps a continuous record for each inventory item. D: requires an annual count of inventory on hand.

英译汉：merchandise inventory（ ）