题目内容

The word "market" as used in "the lower of cost or market" generally means

A. liquidation price.
B. original cost.
C. retail market price.
D. current replacement cost

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The sum of ending inventory and cost of goods sold is

A. net purchases
B. cost of goods available (or cost of goods available for sale)
C. beginning inventory
D. gross profit

The following data come from the inventory records of Dapper Company:Net sales revenue…………$624,000Beginning inventory…………64,000Ending inventory……………...43,000Net purchases………………..400,000Based on these facts, the gross profit for Dapper Company is

A. $224,000
B. $193,000
C. $150,000
D. $203,000

Patterson Company ended the month of March with inventory of $20,000. Patterson expects to end April with inventory of $13,000 after selling goods with a cost of $93,000. How much inventory must Patterson purchase during April in order to accomplish these results?

A. $106,000
B. $126,000
C. $100,000
D. $86,000

Sales are $500,000 and cost of goods sold is $320,000. Beginning and ending inventories are $28,000 and $38,000, respectively. How many times did the company turn its inventory over during this period?

A. 9.7 times
B. 6.4 times
C. 15.2 times
D. 5.5 times