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Find which average collection periods is most desirable

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Reference no: EM132496307

Question 1: If inventory increases under the retail method, which of the following is true:

a.Under the LIFO retail method, a new layer would be added.

b.Under the Dollar Value LIFO retail method, no new layer would be added.

c.Under the Average Cost retail method, a new layer would be added.

d.All of these are true.

Question 2: Which of the following average collection periods is most desirable?

a.120 days.

b.85 days.

c.80 days.

d.100 days.

Question 3: Based on a period of rising inventory prices, which inventory costing method will result in the lowest taxes paid:

a.LIFO

b.FISH

c.Average cost

d.FIFO

Reference no: EM132496307

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