Author Question: Which of the following methods is appropriate for a business whose inventory consists of a ... (Read 64 times)

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