第六章单元测试
- Goods in transit are included in a purchaser's inventory:（ ）
- Costs included in the Merchandise Inventory account can include all of the following except:（ ）
- Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales:
January 1 20 units were purchased at $10 per unit.
January 12 12 units were sold.
January 20 18 units were purchased at $11 per unit.
What is the value of cost of goods sold? （ ） - A company sells garden hoses and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during September were as follows:
September 1: Beginning balance of 18 units at $13 each September 12: Purchased 30 units at $14 each September 19: Sold 24 units at $30 selling price each September 20: Purchased 24 units at $17 each September 27: Sold 27 units at $30 selling price each
If the ending inventory is reported at $276, what inventory method was used?（ ） - A company has the following per unit original costs and replacement costs for its inventory. LCM is applied to individual items.
Part A: 50 units with a cost of $5, and replacement cost of $4.50 Part B: 75 units with a cost of $6, and replacement cost of $6.50 Part C: 160 units with a cost of $3, and replacement cost of $2.50
Under the lower of cost or market method, the total value of this company's ending inventory is:（ ）
A:When the supplier is responsible for freight charges. B:When the purchaser is responsible for paying freight charges. C:After the half-way point between the buyer and seller. D:At any time during transit.
答案:When the purchaser is responsible for paying freight charges.
A:Insurance. B:Damaged inventory that cannot be sold. C:Storage. D:Invoice price minus any discount.
A:$272. B:$120. C:$126. D:$278.
A:Weighted average method. B:LIFO method. C:Specific identification method. D:Retail inventory method.
A:$1,180.00. B:$1,217.50. C:$1,075.00. D:$1,112.50.
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