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Multiple Choice Question 134
If a company has net sales of $700,000 and cost of goods sold of
$490,000, the gross profit percentage is
30%.
70%.
100%.
15%.
8-
Multiple Choice Question 118
The consistent application of an inventory costing method is
essential for
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.