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.
11-
Multiple Choice Question 72