ACC 201 (ACC 201)

ACC 201 Exam 2 UNLV questions and answers graded A+ passedThe LiFo Conformity rule states that? - ANS If this method is used for inventory, it MUST be used for it's financial reporting. Turnover Ratio - ANS COGS/Average Inventory Days to Sell Ratio - ANS 365/inventory turnover ratio -average number of days from purchase to sale -a higher number means a longer time to sell Cost of Goods Sold - ANS the total cost of merchandise sold during the period Inventory - ANS A list of poss...