举一反三
- Which of the following is true regarding the LIFO method of inventory costing?
- Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
- The difference between Cost of Goods Sold and Cost of Goods Available for Sale is: A: Beginning Inventory B: Ending Inventory C: Net Sales D: Net Purchases
- 中国大学MOOC: A wholesaler had opening inventory of 300 units of product Emm valued at $25 per unit at the beginning of January. The following receipts and sales were recorded during January. Date 2 Jan 12 Jan 21 Jan 29 Jan Receipts 400 Issues 250 200 75 The purchase cost of receipts was $25.75 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of January.
- 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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The following data come from the inventory records of Dapper Company:Net sales revenue…………$624,000Beginning inventory…………64,000Ending inventory……………...43,000Net purchases………………..400,000Based on these facts, the gross profit for Dapper Company is A: $224,000 B: $193,000 C: $150,000 D: $203,000
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（）is the method to keep the best inventory level and position with the minimum cost to satisfy the demand.
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A company can change its inventory costing method without mentioning this change in its financial statements because it is an internal management decision. ( )
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Which of the following cost belong to the inventory cost? A: transportation in B: insurance C: invoice cost D: storage
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Which of the following statements about inventory accounting is least accurate（） A: If a U. S. firm uses LIFO for tax reporting it must use LIFO for financial reporting. B: During periods of rising prices, FIFO based current ratios will be smaller than LIFO based current ratios. C: U.S. GAAP rules require the use lower of cost or market when reporting inventories.