Selected answer d 312 5 answers a 600 b 575 c 300 d

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Selected Answer:d. $31.25Answers: a. $60.00b. $57.50
c. $30.00d. $31.25
Question 6 2 out of 2 pointsUnder the periodic inventory system, Village Fabrics purchases navy plaid fabric used in its fabric-selling business in the following lots: June 5 - 4 yards at $2.50 per yard, June 12 - 7 yards at $3.00 per yard, June 17 - 8 yards at $3.50 per yard. What is the periodic average cost of the fabric per yard?
Question 7 2 out of 2 pointsMerchandise inventory is reported on the balance sheet in the section titled:
Question 8 2 out of 2 pointsThe formula to calculate inventory turnover is:
Question 9 2 out of 2 pointsUnder the periodic inventory system, Village Fabrics purchased 25 yards of blue plaid fabric at a cost of $2.00 per yard on June 1; on June 3, 22 yards were sold of the blue plaid; a new shipment came in with 25 more yards at acost of $1.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabricwere sold; Village Fabrics purchased another 25-yard bolt at a cost of $1.00 per yard on June 19; on June 27, 6 more yards had been sold. What is the value of inventory as of June 30 under the LIFO method?Selected Answer:d. $56.25Answers: a. $60.00b. $31.25c. $50.00d.
$56.25
Question 10 0 out of 2 pointsWhich statement about inventory costing methods is TRUE?

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