Accounting questions (Inventory) 1) In a merchandising company, the inventory normally consists of Question...
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Accounting
Accounting questions (Inventory)
1) In a merchandising company, the inventory normally consists of
Question options:
WIP (work in process)
Raw Material
Finished Goods
Inventory
2) Raw material costs change frequently for a company (costs rise and fall). Select the option that would make the book value of year-end inventory be the same regardless of using the perpetual or periodic inventory method.
Question options:
LIFO method
Weighted-average method
FIFO method
Average method
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