¡GoConqr estrena diseño! Cuéntanos qué te parece.

Regístrate gratis

Test

FA chapter6 quiz

meli ssa 17 preguntas 3,0 (1 valoración)

Hacer el test

Preguntas del test (17)

  1. 1The next two questions use the following facts. Oceanview Software began January with $3,500
    of merchandise inventory. During January, Oceanview made the following entries for its inventory transactions:


    How much was Oceanview’s inventory at the end of January?    Imagen de la pregunta 1
    1. A$5,400
    2. BZero
    3. C$4,400
    4. D$2,200
  2. 2What was Oceanview’s gross profit for January?
    1. AZero
    2. B$7,600
    3. C$5,400
    4. D$2,200
  3. 3When does the cost of inventory become an expense?
    1. AWhen inventory is delivered to a customer
    2. BWhen inventory is purchased from the supplier.
    3. CWhen cash is collected from the customer.
    4. DWhen payment is made to the supplier.
  4. 4If Marble Frame uses the FIFO method, the cost of the ending inventory will beImagen de la pregunta 4
    1. A$39,000.
    2. B$36,160.
    3. C$36,260.
    4. D$36,000.
  5. 5If Marble Frame uses the LIFO method, cost of goods sold will be
    Imagen de la pregunta 5
    1. A$22,600.
    2. B$22,760.
    3. C$22,500.
    4. D$19,760.
  6. 6. In a period of rising prices
    1. AGross profit under FIFO will be higher than under LIFO.
    2. B.
      b. LIFO inventory will be greater than FIFO inventory.
    3. CNet income under LIFO will be higher than under FIFO.
    4. DCost of goods sold under LIFO will be less than under FIFO.
  7. 7The Income Statement for Feel Good Health Foods shows gross profit of $154,000,
    operating expenses of $128,000, and cost of goods sold of $213,000. What is the amount of
    net sales revenue?
    1. A$367,000
    2. B341,000
    3. C$495,000
    4. D$341,000
  8. 8When the inventory cost is lower than NRV, the inventory should be reported at
    1. A. market price of inventory
    2. Breplacement of inventory
    3. Cselling price of inventory less cost to sell
    4. Dacquisition cost of inventory.
  9. 9The sum of (a) ending inventory and (b) cost of goods sold is
    1. Agoods available.
    2. Bbeginning inventory
    3. Cgross profit.
    4. Dnet purchases.
  10. 10The following data come from the inventory records of Draper Company:
    Based on these facts, the gross profit for Dapper Company is    Imagen de la pregunta 10
    1. A. $152,000.
    2. B$175,000.
    3. C$129,000
    4. D. Some other amount

Información

Descripción
Test sobre FA chapter6 quiz, creado por meli ssa el 18/02/2019.
Idioma
English
Visitas
457
Valoración
3,0 de 5 · 1 valoración
Valora este test
Valora este test

Escríbenos

¿Sobre qué es tu mensaje?

¿Qué te parece el nuevo diseño?

¿Te gusta?