Which of the following inventory costing methods assumes that the cost, at the earliest purchase of goods, is the first to be recognized as the cost of the goods sold?
Free on board
FOB shipping point
First in, first out
Last in, first out
First in, first out
Rationale: The first in, first out costing method assumes that the cost, at the earliest purchase of goods, is the first to be recognized as the cost of the goods sold.
You might also like to view...
A patient has developed chest pain while working in his wood shop. After assessing and providing care to the patient, the chest pain remains, although his vital signs are normal. To get him to the ambulance, the EMTs must first go up a short flight of stairs from the basement to the first floor, where the front door is located. Which one of the following would be the safest for both the patient
and crew? A) The two EMTs grasp the sides of the portable stretcher and move the patient up the stairs. B) The stronger of the EMTs takes the head of the portable stretcher. C) The patient carefully walks up the stairs under the watchful assistance of the EMTs. D) The patient is carried up the stairs on the stair chair feet first.
You are treating a patient with suspected heat cramps. Your medical director has issued standing orders for such treatment given the high number of heat-related emergencies to which your service routinely responds in the summer months. Regarding these standing orders, which of these instructions would seem most appropriate?
A) Mix one teaspoon salt in one quart of water and administer half of a glass every 15 minutes B) Make and administer a saltwater solution by combining Gatorade with one teaspoon of salt C) Administer salt tablets every 15 minutes until the cramping subsides D) Have the patient drink one glass of cold tap water every 15 minutes until he has to urinate
You are performing a trauma knee series to include an AP, both obliques, and a lateral. The patient is in a true AP but cannot be moved from this position. How will the CR be angled for the external oblique?
A. Mediolaterally B. Cephalic C. Lateromedially D. Caudad
The anterior inferior one-fifth of the acetabulum is formed by theA) ilium
B) ischium. C) pubic bone. D) The acetabulum is a separate bone.