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

Title: The two most widely used methods for determining the cost of inventory are a. FIFO and LIFO b. ...
Post by: Lobcity on Jul 5, 2018

The two most widely used methods for determining the cost of inventory are
 a. FIFO and LIFO
  b. FIFO and average cost
  c. LIFO and average cost
  d. gross profit and average cost

Question 2

Which accounting principle requires that bad debts expense be recognized in the same period as the sale?
 
  A) entity
  B) matching
  C) revenue recognition
  D) cost

Title: The two most widely used methods for determining the cost of inventory are a. FIFO and LIFO b. ...
Post by: blakcmamba on Jul 5, 2018

Answer to Question 1

a

Answer to Question 2

B