ACCT 504 help A Guide to career/uophelp.com ACCT 504 help A Guide to career/uophelp.com | Page 55

A.
includes extraordinary gains and losses.
B.
affects earnings per share.
C.
includes unrealized gains and losses on available-for-sale investments.
D.
has no effect on income tax.
Q-2
Use the following data of
TortoiseTortoise
Sales, Inc.:
Unit Total Units
Units Cost Cost Sold
Beginning inventory 16
$3
$48
Purchase on Apr 25 25
6
150
Purchase on Nov 16 11
8
88
Sales 40
?
?
Tortoise
Sales' average cost of ending inventory is
An auditor report by independent accountants
A.