第六章测试1.The excess of sales revenue over cost of goods sold is:（ ）。
A:gross profit.
B:ending inventory.
C:cost of goods sold.
D:beginning inventory.
答案:A
2.
The perpetual inventory system:（ ）。
A:other three choices are true. B:requires an annual count of inventory on hand.
C:keeps a continuous record for each inventory item.
D:is used by most businesses.
3.Cost of goods sold:（ ）。
A:is the number of units of inventory purchased 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 sold multiplied by cost per unit of inventory.
4.
Merchandise inventory:（ ）。
A:is the cost of inventory that has been sold
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:neither is the cost of inventory that has been sold or is an expense on the income statement 5.
（ ）。A:$27.33
B:$25.00
C:$22.00
D:$28.70
6.Refer to Question 5. Using the average cost method, what is the cost of goods sold?（ ）。
A:$1,875.00
B:$2,049.75
C:$717.50
D:$2,152.50
7.Refer to Question 5. What value is assigned to the ending inventory, if using FIFO?（ ）。
A:$625.00
B:$595.00
C:$550.00
D:$875.00
8.
（ ）。A:$35,000
B:$20,000
C:$55,000
D:$75,000
9.Refer to Question 8. What is the gross profit for this company?（ ）。
A:$162,000
B:$35,000
C:$197,000
D:$182,000
10.
Inventory turnover:（ ）。
A:indicates how rapidly inventory is sold.
B:is the ratio of cost of goods sold to average inventory.
C:other three choices are not true. D:both indicates how rapidly inventory is sold and is the ratio of cost of goods sold to average inventory
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