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?