4. Merchandising Operations

Costs developed to identify what products should cost are called:

A schedule of cost of goods manufactured includes all of the following costs except:

A company uses the periodic inventory system. Beginning inventory is \$5,000, purchases during the period are \$12,000, and ending inventory is \$4,000. What is the cost of goods sold (COGS) for the period?

Which of the following statements best describes how Cost of Goods Sold (COGS) is determined under the perpetual inventory system compared to the periodic inventory system?

The average manufacturing overhead cost per unit usually varies from one period to the next because:

Which of the following costs are capitalized as inventory during the completion of products under both perpetual and periodic inventory systems?

Which of the following is considered a product cost under both the perpetual and periodic inventory systems?

Which of the following is an assumption of cost-volume-profit (CVP) analysis?

Which of the following is NOT a cost associated with inventory management?

If all units are purchased at the same unit cost, how will the Cost of Goods Sold (COGS) calculated under the perpetual inventory system compare to the COGS calculated under the periodic inventory system?

Which of the following is NOT a key difference between the calculation of Cost of Goods Sold (COGS) under the perpetual inventory system and the periodic inventory system?

For which of the following businesses would a process cost system be most appropriate?

Under a perpetual inventory system using the FIFO method, if a company produces raincoats in three batches at costs of \$20, \$22, and \$24 respectively, what is the total cost of production associated with the 3rd raincoat sold?

Which inventory costing system is most likely to produce the least cost distortion when tracking the cost of goods sold?

Under the perpetual and periodic inventory systems, what effect will a decrease in inventory have on free cash flows, assuming all other factors remain constant?