Selected answer b 311 per yard correct answer d 311

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Question 4 2 out of 2 pointsDuring the taking of a physical inventory on December 31, 2012, inventory was counted as $100,870 instead of the correct amount of $100,780. The effect of the error on the December 31, 2012 balance sheetand income statement will be:
Question 5 2 out of 2 pointsMerchandise inventory is reported on the balance sheet in the section titled:
Question 6 2 out of 2 pointsUnder the perpetual 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 a cost of $1.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $1.00 per yard on June 19; on June 27, 11 more yards had been sold. What is the value of inventory as of June 30 under the LIFO method?
Question 7 2 out of 2 pointsUnder the perpetual 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 a cost of $2.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $2.50 per yard on June 19; on June 27, 6 more yards had been sold. No inventory was on hand at the beginning of the month. What is thecost of merchandise sold and cost of inventory under the FIFO method for June?
Question 8 2 out of 2 pointsUnder the perpetual 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 a cost of $1.25 per yard on June 5, on June 15, 17 yards of the blue plaid fabric were 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 FIFO method?
Question 9 0 out of 2 pointsWhich statement about inventory costing methods is TRUE?
Question 10 2 out of 2 pointsThe formula to calculate inventory turnover is:

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