AAMI Accounting 2 Final 2025
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,Terms in this set (75)
The concept that Inflation
prices rise over
time
Another term for Revenue
sales
Sales - Cost of Gross Profit
Goods Sold
In an inflationary LIFO
period what
method of
inventory
valuation would
lower profits
In an inflationary FIFO
period what
method of
inventory
valuation would
increase profits
, In a deflationary FIFO
period what
method of
inventory
valuation would
lower profits
In a deflationary LIFO
period what
method of
inventory
valuation would
higher profits
What method of Specific Identification
inventory
valuation would
we use as
funeral directors
Sales-CGS-All Net Profit
other operating
expenses
Total cost/Total Weighted Average
units available
for sale
COMPREHENSIVE EXAM
QUESTIONS |FREQUENTLY TESTED
QUESTIONS |RECENTLY TESTING
REAL EXAM QUESTIONS|VERIFIED
SOLUTIONS (100% CORRECT)
Save
Get a taste for our practice questions
Learn
Studied 7 terms
Nice work, you're crushing it
Continue studying in Learn
,Terms in this set (75)
The concept that Inflation
prices rise over
time
Another term for Revenue
sales
Sales - Cost of Gross Profit
Goods Sold
In an inflationary LIFO
period what
method of
inventory
valuation would
lower profits
In an inflationary FIFO
period what
method of
inventory
valuation would
increase profits
, In a deflationary FIFO
period what
method of
inventory
valuation would
lower profits
In a deflationary LIFO
period what
method of
inventory
valuation would
higher profits
What method of Specific Identification
inventory
valuation would
we use as
funeral directors
Sales-CGS-All Net Profit
other operating
expenses
Total cost/Total Weighted Average
units available
for sale
