ACCTG 211 Inventory Valuation

Assessment
•
Dr. Paz
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Other
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University
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34 plays
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Hard
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7 questions
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1.
Multiple Choice
AR
Merchandise Inventory
Prepaid Insurance
Notes Receivable
2.
Multiple Choice
$192,000
$216,000
$108,000
$300,000
3.
Multiple Choice
debit Merchandise Inventory and credit Cost of Goods Sold
debit Loss on Inventory and credit Merchandise Inventory
debit Merchandise Inventory and credit Inventory Adjustment
debit Cost of Goods Sold and credit Merchandise Inventory
4.
Multiple Choice
sales revenue
operating expenses
net income
net cost of purchases
5.
Multiple Choice
purchases
gross profit
COGS
ending merchandise inventory
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