If inventory is taken only at the end of each accounting period, the average inventory for the period can be calculated by adding the beginning and the ending inventories and dividing their sum by two
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is a correct use of a superlative?
a. She is the newest of the two workers. b. Charles is the better writer of the two-member team. c. She is the fastest of the three workers. d. Jill is the better student in the freshman class.
The most recent balance sheet and income statement of Oldaker Corporation appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$31 $29 Accounts receivable 73 79 Inventory 44 45 Property, plant and equipment 728 590 Less accumulated depreciation 253 242 Total assets$623 $501 Liabilities and stockholders' equity: Accounts payable$56 $63 Accrued liabilities 21 22 Income taxes payable 26 28 Bonds payable 121 110 Common stock 33 30 Retained earnings 366 248 Total liabilities and stockholders' equity$623 $501 Income Statement?Sales$921Cost of goods sold 575Gross margin 346Selling and administrative expense 117Net operating income229Income taxes
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Identify the correct form of the verb in parentheses. By this time next week, Sirena (future perfect tense of complete) her last clerkship