My Home Ac2760 Topic 07 Quiz

HTMLCONTROL Forms.HTMLOption.1 A) first-in, first-out. HTMLCONTROL Forms.HTMLOption.1 B) last-in, first-out. HTMLCONTROL Forms.HTMLOption.1 C) average cost. HTMLCONTROL Forms.HTMLOption.1 D) first-in, last-out. Question 25 / 5 pointsThe inventory costing method that assigns the most recent costs to cost of good sold is HTMLCONTROL Forms.HTMLOption.1 A) average cost. HTMLCONTROL Forms.HTMLOption.1 B) FIFO. HTMLCONTROL Forms.HTMLOption.1 C) specific identification. HTMLCONTROL Forms.HTMLOption.1 D) LIFO. Question 36 / 6 pointsUse the following data to calculate the cost of ending inventory under the FIFO method. September 1Beginning Inventory15 units at 20 eachSeptember 10Purchase20 units at 25 eachSeptember 20Purchase25 units at 28 eachSeptember 30Ending Inventory30 units HTMLCONTROL Forms.HTMLOption.1 A) 840 HTMLCONTROL Forms.HTMLOption.1 B) 825 HTMLCONTROL Forms.HTMLOption.1 C) 675 HTMLCONTROL Forms.HTMLOption.1 D) 750 Question 46 / 6 pointsUse the following data to calculate cost of merchandise sold under FIFO method. September 1Beginning Inventory15 units at 20 eachSeptember 10Purchase20 units at 25 eachSeptember 20Purchase25 units at 28 eachSeptember 30Ending Inventory30 units HTMLCONTROL Forms.HTMLOption.1 A) 675 HTMLCONTROL Forms.HTMLOption.1 B) 825 HTMLCONTROL Forms.HTMLOption.1 C) 600 HTMLCONTROL Forms.HTMLOption.1 D) 750 Question 56 / 6 pointsUse the following data to calculate the cost of ending inventory using the LIFO method. September 1Beginning Inventory15 units at 20 eachSeptember 10Purchase20 units at 25 eachSeptember 20Purchase25 units at