The two most widely used methods for determining the cost of inventory are a. FIFO and LIFO b. ...

Author Question: The two most widely used methods for determining the cost of inventory are a. FIFO and LIFO b. ... (Read 202 times)

Lobcity

Hero Member
Posts: 524

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

blakcmamba

Sr. Member
Posts: 335

Reply #1 on: Jul 5, 2018

Answer to Question 1

a

Answer to Question 2

B

Need homework help now?

Ask unlimited questions for free

Ask a Question

« previous next »

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.