financial accounting章节测试课后答案2024春

第六章测试

1.The excess of sales revenue over cost of goods sold is:（ ）。
A:ending inventory. B:beginning inventory. C:cost of goods sold. D:gross profit.
答案:D
2.The perpetual inventory system:（ ）。
A:is used by most businesses. B:requires an annual count of inventory on hand. C:keeps a continuous record for each inventory item. D:other three choices are true. 3.Cost of goods sold:（ ）。
A:is the number of units of inventory sold multiplied by cost per unit of inventory. B:will always be lower when using LIFO rather than FIFO, during a period of rising prices C:will be the same amount when using LIFO or FIFO, during a period of rising prices. D:is the number of units of inventory purchased multiplied by cost per unit of inventory. 4.Merchandise inventory:（ ）。
A:neither is the cost of inventory that has been sold or is an expense on the income statement B:both is the cost of inventory that has been sold and is an expense on the income statement C:is an expense on the income statement D:is the cost of inventory that has been sold 5.（ ）。
A:$28.70 B:$27.33 C:$25.00 D:$22.00 6.Refer to Question 5. Using the average cost method, what is the cost of goods sold?（ ）。
A:$2,152.50 B:$1,875.00 C:$717.50 D:$2,049.75 7.Refer to Question 5. What value is assigned to the ending inventory, if using FIFO?（ ）。
A:$595.00 B:$550.00 C:$875.00 D:$625.00 8.（ ）。
A:$75,000 B:$35,000 C:$55,000 D:$20,000 9.Refer to Question 8. What is the gross profit for this company?（ ）。
A:$197,000 B:$35,000 C:$182,000 D:$162,000 10.Inventory turnover:（ ）。
A:other three choices  are not true. B:indicates how rapidly inventory is sold. C:both indicates how rapidly inventory is sold and is the ratio of cost of goods sold to average inventory D:is the ratio of cost of goods sold to average inventory.