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ACC 304 Chapter 8 Homework

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ACC 304 Chapter 8 Homework

Brief Exercise 8-3

Brief Exercise 8-6

Brief Exercise 8-7

Exercise 8-4

Exercise 8-9

Exercise 8-16

Problem 8-1

Multiple Choice Question 34

Which of the following items should be included in a company's inventory at the balance sheet date?

Multiple Choice Question 45

On June 15, 2012, Wynne Corporation accepted delivery of merchandise which it pur-chased on account. As of June 30, Wynne had not recorded the transaction or included the merchandise in its inventory. The effect of this on its balance sheet for June 30, 2012 would be

Multiple Choice Question 112

Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 300 units that cost $65 each. During the month, the company made two purchases: 450 units at $68 each and 225 units at $70 each. Chess Top also sold 750 units during the month. Using the average cost method, what is the amount of ending inventory?

Multiple Choice Question 130

Willy World began using dollar-value LIFO for costing its inventory two years ago. The ending inventory for the past two years in end-of-year dollars was $120,000 and $180,000 and the year-end price indices were 1.0 and 1.2, respectively. Assuming the current inventory at end of year prices equals $258,000 and the index for the current year is 1.25, what is the ending inventory using dollar-value LIFO?

Multiple Choice Question 50

Which of the following is included in inventory costs?

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