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Author Question: The two most widely used methods for determining the cost of inventory are a. FIFO and LIFO b. ... (Read 240 times)

Lobcity

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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

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

B


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