Multiple Choice
In performing a stocktake care must be taken with goods in transit. Which of these statements is true?
A) Stock on consignment is regarded as sold by the consignor.
B) Stock on consignment is included in the stock of the consignor.
C) Goods in transit should be included in both the purchasers and the seller's inventory.
D) Stock on consignment is included in the stock of the consignee.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: If inventory costs are rising which method
Q19: A physical count of inventory on hand
Q21: Which of the following information concerning inventory
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3115/.jpg" alt=" A) $690 000
Q24: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3115/.jpg" alt=" A) $10 000
Q25: Millibrand Co uses a periodic inventory system
Q26: Under the FIFO method sales returns are
Q27: Which statement relating to the moving average
Q28: If inventory prices are rising the method
Q33: The formula, cost of sales/average inventory, measures