A method of allocating merchandise cost requiring each item sold and each item remaining in inventory to be separately identified with respect to its purchase cost is called the
a. last-in, first-out method.
b. first-in, first-out method.
c. specific identification method.
d. weighted-average method.
c
You might also like to view...
What are the advantages and disadvantages of using demand-based pricing?
What will be an ideal response?
Which of the following transactions would not be reported in the one of the three main activity sections of the statement of cash flows prepared under the indirect method?
a. A purchase of treasury stock b. A purchase of an operational asset by issuing common stock c. A loan made to another company d. Patent amortization e. A gain on the sale of a plant asset
Alberto was attending a concert at Parker Hall. During the concert Alberto had leave his seat to go to the washroom. There was some construction going on in the hallway outside the washroom, and Alberto tripped on a loose tile, injuring himself. Because it was fairly dark, he didn't see the sign warning patrons to watch their step. Alberto sues Parker Hall for negligence. Which of the following is TRUE?
A) The defendants complied with the standard of care by warning patrons of the danger. B) Alberto voluntarily assumed the risk of an accident by going to the bathroom in the dark. C) The premises were not reasonably in safe in the circumstances. D) The defendants did not take reasonable care to make the premises safe E) Both C and D.
In the context of communication barriers, _____ can range from a document that looks like a wall of type to a room that's freezing cold.
A. physical barriers B. language barriers C. perceptual barriers D. organizational barriers