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

Title: Which of the following methods is appropriate for a business whose inventory consists of a ...
Post by: ENagel on Jul 5, 2018

Which of the following methods is appropriate for a business whose inventory consists of a relatively small numberof unique, high-cost items?
 a. FIFO
  b. LIFO
  c. average
  d. specific identification

Question 2

On February 12, Horseshoe Bend Company purchases 25,000 of merchandise from a vendor with credit terms of 2/10, n/30. If Horseshoe Bend pays the vendor on February 21, the amount of the payment should be ________.
 
  A) 25,000
  B) 24,500
  C) 22,500
  D) 27,500

Title: Which of the following methods is appropriate for a business whose inventory consists of a ...
Post by: lou on Jul 5, 2018

Answer to Question 1

d

Answer to Question 2

B