DEvry ACCT212 WeeK 4 Shoaib Ghalib: Week 4 Checkpoint Latest 2015 October

| January 30, 2017

Question
1. Question : (TCO 4) The cost of the inventory that the business has sold to customers is called

Student Answer:

Question 2. Question : (TCO 4) The cost of inventory that is still on hand and has not been sold to customers is called

Student Answer:

Question 3. Question : (TCO 4) The inventory system that uses computer software to keep a running record of inventory on hand is the

Student Answer:

Question 4. Question : (TCO 4) The cost of inventory is the

Student Answer:

Question 5. Question : (TCO 4) ABC Auto Sales sells new Lexus vehicles. ABC will most likely use the _____ method to cost its ending inventory.

Student Answer:

Question 6. Question : (TCO 4) To determine cost of goods sold under the FIFO method

Student Answer:

Points Received: 3 of 3

Comments:

Question 7. Question : (TCO 4) Under the _____ method, ending inventory is based on the costs of the most recent purchases.

Student Answer:

Question 8. Question : (TCO 4) The _____ principle states that the financial statements of a business must report enough information for outsiders to make knowledgeable decisions about the business.

Student Answer:

Question 9. Question : (TCO 4) The lower-of-cost-or-market rule requires a company to report inventories at the lower of

Student Answer:

Question 10. Question : (TCO 4) The inventory turnover ratio

Student Answer:

Get a 30 % discount on an order above $ 50
Use the following coupon code:
COCONUT
Order your essay today and save 30% with the discount code: COCONUTOrder Now
Positive SSL