Question 27
Classic Floors has the following inventory data :
July 1 Beginning inventory 15 units at $ 6.00 5 Purchases 60 units at $ 6.60 14 Sale 40 units 21 Purchases 30 units at $ 7.20 30 Sale 28 units
Assuming that a perpetual inventory system is used , what is the value of ending inventory on a LIFO basis for July ?
Question 28
Which of the following is not one of the main factors that contribute to fraudulent activity ?
Question 29
What is the rationale for the internal control principle , segregation of duties ?