Day 2 - 76% Flashcards
1
Q
Assuming constant inventory quantities, what inventory costing method will produce the lowest Inventory Turnover Ratio in inflation?
A
FIFO
MCQ-06925
2
Q
The Bonus Method
A
MCQ-00871
3
Q
ABC beg inventory was understated by $26k and the ending inventory was overstated by $52k. What was the best effect to ending COGS?
A
Understated by $78k
MCQ-00114
4
Q
Is insurance costs of manufacturing equipment included in inventory costs?
A
Yes
MCQ-09011
5
Q
Accrued interest payable equals:
A
The amount of interest owed after the last bond payment
MCQ-00477
