models correct? Which of the statement concerning the one feature of the accounting A Deb r ed on th

models correct? Which of the statement concerning the one feature of the accounting A Deb r ed on the right and credits are entered on the left Adebenty decrease a ty account and increase an asset account Stock sold to investors increases stockholders' equity and is recorded as a de Albey account should be credited upon payment of an account payable Maret Company uses the periode FIFO method to value inventory and had the Bowing transactions in the period. What are the cost of goods sold and ending inventory balances in dollars for the period Cost per unit Date 1 Hof units 100 Transaction Beginning balance Purchase Sale Ending Inventory COGS 6.25 600 22. Which of the following inventory costing methods is subject to manipulation with regard to the resulting inventory cost? A) LIFO. B) FIFO. c) Weighted average cost. D) Specific identification and LIFO 23. In 2018, Maya & Cie, Inc. provided the following items in their footnotes. Their cost of goods sold were $22 bilion under FIFO costing and their inventory value under FIFO costing was $2.1 bilion. Their LIFO Reserve figure for year end 2017 was a $0.6 billion credit balance and at yoar end 2018 it had increased to a credit balance of $0.8 billion. How much is LIFO Inventory value at year end 2018? A) $1.9 billion B) $2.9 billion C) $2.3 billion D) $1.3 billion 24. Harley Davidson has an inventory turnover ratio of 10.1 in 1998 compared to their own Titan Motorcycle with a 26 ratio in 1998. Which of the following is the most cause of Titan's lower ratio? A) Lower levels of inventory compared to Harley Davidson B) It takes Titan less days to sell their inventory c) Titan's smaller size makes it difficult for them to achieve the economies of scale in comparison to Harley Davidson's scale of operations D) None of the above causes their ratio to be lower 25. Ventura, Inc. reports its cost of goods sold as $40.0 billion in 2017. It has $3.8 billion in inventory and reports accounts payable at $2.6 billion in 2017. In 2016, ending Inventory was reported at $3.4 billion and accounts payable was $2.5 billion. How much cash was paid to suppliers for 2017? A) $41.2 billion B) $40.9 billion

 

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