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1. BUS 591 Week 3 Quiz - Spring
2016
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2. BUS 591 Week 3 Quiz - Spring 2016
Adams Company is a retailer and uses a perpetual inventory system. Which statement is
correct?
Inventory costing methods place primary reliance on assumptions about the flow of
Which of the following accounts has a normal credit balance?
Assets purchased for resale are recorded in which of the following accounts?
Financial information is presented below:
Operating Expenses $ 45,000
Echo Sound Company just began business and made the following four
inventory purchases in June:
In periods of rising prices, which is an advantage of using the LIFO inventory
costing method?
Freight costs incurred by a seller on merchandise sold to customers will
cause an increase
Which of the following is not considered in computing net cost of purchases?
Which of these would cause the inventory turnover ratio to increase the most?