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Social Science Clinic => Accounting => Topic started by: Caiter2013 on Jul 5, 2018

Title: Which of the following companies would be more likely to use the specific identification inventory ...
Post by: Caiter2013 on Jul 5, 2018

Which of the following companies would be more likely to use the specific identification inventory costing method?
 a. Gordon's Jewelers
  b. Lowe's
  c. Best Buy
  d. Walmart

Question 2

The Ribbon Company began operations on May 1. The following transactions took place in May:
 
  Purchased 400,000 of merchandise on account.
  Purchased an additional 200,000 of merchandise for cash.
 
  Paid 3,000 cash for freight to deliver the merchandise purchased.
  Paid 25,000 for the store managers' monthly salaries.
 
  The cost of the inventory purchased for the month of May equals ________.
  A) 400,000
  B) 600,000
  C) 603,000
  D) 628,000

Title: Which of the following companies would be more likely to use the specific identification inventory ...
Post by: xiaomengxian on Jul 5, 2018

Answer to Question 1

a

Answer to Question 2

C