Review Game Zone
Games
Test
Preview
Back
Match it!
Match it! Select the correct answer from the pull down...Good luck!
FOB destination means that the title to the goods passes to the buyer when the goods are received at the buyer's place of business.
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
300 units are in ending inventory. There were 200 in beginning inventory purchased at $1 per unit. 400 were purchased at $1.20. Using FIFO, what's the total cost of end. inventory?
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
The costing method that uses the price of merchandise purchased last to calculate the cost of merchandise sold first is
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
A company's merchandise turnover ratio for the current fiscal period is 5.6. What is the average number of days' sales in merchandise inventory?
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
Beginning inventory = 1,300 units at $18 per unit. First purchase=1,500 units at $19. 2nd purchase=1,500 units at $20. End. inv.=1,900 units. Cost of end. inv. using weighted-avg?
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
A form used during a periodic inventory to record info about each item of merchandise on hand is a(n)
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
Beginning merchandise inventory is $75,000. Ending merchandise inventory is $56,000. What is the average merchandise inventory?
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
300 units are in ending inventory. There were 200 in beginning inventory purchased at $1 per unit. 400 were purchased at $1.20. Using LIFO, what's the total cost of end. inventory?
$65,500
65 days
True
LIFO
inventory record
$360.00
$36,195
$320.00
Check it!