accuracy. efficiency. comparability. conservatism. 9- Multiple Choice Question 168
The inventory turnover ratio is computed by dividing cost of goods sold by
beginning inventory. ending inventory. average inventory. 365 days. 10- Multiple Choice Question 126
Switzer, Inc. has 5 computers which have been part of the inventory for over two years. Each computer cost $ 600 and originally retailed for $ 900. At the statement date, each computer has a current replacement cost of $ 400. How much loss should Switzer, Inc., record for the year?
$ 2,000. $ 2,500. $ 1,000. $ 1,500.