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  3. 13. when inventory costs are rising a. fifo cogs i

13. When inventory costs are rising a. FIFO COGS is lowest b. FIFO COGS is...

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Accounting

13. When inventory costs are rising a. FIFO COGS is lowest b. FIFO COGS is highest c. FIFO COGS is same d. Gross Profit is lowest

14. If period 1 ending inventory is overstated, then a. COGS is understated b. Gross Profit is overstated c. Net Income is overstated d. All of the above

15. Which of these assets are not depreciated a. Computers b. Production Machines c. Cars d. Land 16. Freight Out is considered in calculating COGS a. True b. False

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