Acc 231 Srincasen ASU Exam 2
Question and answers already passed
2025/2026
Inventory ending balance - correct answer ✔Beginningbalance + purchases - cost of goods sold
Gross Profit Percent - correct answer ✔money made after cost divided by gross profit
Net profut percent - correct answer ✔after tax profits to net sales, net profit divided by net sales
Inventory afjustments lower cost of market, shrinkage - correct answer ✔D cost of goods C inventory
Discount periods - correct answer ✔
Lifo - correct answer ✔costs increasing, report fewer profits, less taxes
costs decreasing, report more profits, more taxes
Fifo - correct answer ✔pcosts increasing, report more profits, more taxes
costs decreasing, less profits, smaller taxes
easier
Average cost - correct answer ✔beginning inventory plus net purchasesdivided by number
Highest gross profit - correct answer ✔
Question and answers already passed
2025/2026
Inventory ending balance - correct answer ✔Beginningbalance + purchases - cost of goods sold
Gross Profit Percent - correct answer ✔money made after cost divided by gross profit
Net profut percent - correct answer ✔after tax profits to net sales, net profit divided by net sales
Inventory afjustments lower cost of market, shrinkage - correct answer ✔D cost of goods C inventory
Discount periods - correct answer ✔
Lifo - correct answer ✔costs increasing, report fewer profits, less taxes
costs decreasing, report more profits, more taxes
Fifo - correct answer ✔pcosts increasing, report more profits, more taxes
costs decreasing, less profits, smaller taxes
easier
Average cost - correct answer ✔beginning inventory plus net purchasesdivided by number
Highest gross profit - correct answer ✔
