题目内容

Using a perpetual inventory system, what journal entry(ies) is(are) prepared when two units of merchandise are sold on account?

A. debit Accounts Receivable and credit Sales Revenue only
B. debit Cash and credit Sales Revenue only
C. debit Accounts Receivable and credit Sales Revenue; debit Cost of Goods Sold and credit Inventory
D. debit Accounts Receivable and credit Sales Revenue; debit Inventory and credit Cost of Goods Sold

查看答案

搜索结果不匹配？点我反馈

更多问题

All of the following costs would be included in the cost of inventory EXCEPT for:

A. insurance while in transit from seller.
B. costs to get inventory ready for sale.
C. taxes paid on the purchase price.
D. sales commission given to salesperson when the inventory is sold.

查看答案

Under the ________ method, ending inventory is based on the costs of the most recent purchases.

A. average-cost
B. FIFO
C. LIFO
D. specific-identification

查看答案

When comparing the results of LIFO and FIFO when inventory costs are decreasing:

A. cost of goods sold will be the lowest using FIFO.
B. ending inventory will be the highest using FIFO.
C. cost of goods sold will be the highest using LIFO.
D. ending inventory will be the highest using LIFO.

查看答案

Marian Company has the following items for the month of July:Sales revenue$476,300Cost of goods sold$330,000Beginning inventory$67,400Endinginventory$78,200Inventoryturnoveris:

A. 3.96.
B. 4.22.
C. 4.53.
D. 4.90.

查看答案