Multiple Choice
Which of the following would NOT cause an error in the physical inventory count on December 31?
A) Counting inventory purchased that was shipped by the supplier FOB destination on December 31
B) Double counting an aisle of product
C) Counting inventory purchased that was shipped by the supplier FOB shipping point on December 31
D) Forgetting to tag a section of inventory
Correct Answer:
Verified
Correct Answer:
Verified
Q95: Goods such as milk, bread, and cheese
Q96: The inventory turnover ratio is normally computed
Q97: Inventory turnover equals average ending inventory divided
Q98: Lionworks Enterprises had the following inventory data:
Q99: Ending inventory can be estimated by subtracting
Q101: In which case will the journal entries
Q102: The LEAST widely used of the four
Q103: If Period 1 ending inventory is understated,
Q104: An indication that inventory is being sold
Q105: Beginning inventory plus net purchases equals cost