1. Name the three 'common Inventory Cost Flow methods and defin 2. What are the three (3) groups of columns on an inventory ledger card and what are the three (3) columns used in each group? 3. What Group does the unit cost come from when recording the cost of Merchandise Sold "UNIT COST"? 4. Do you EVER use the SALES PRICE on the Inventory Ledger Cards? 5. During a period of RISING COSTS which Inventory Method values the ENDING INVEVTORY at the LOWEST COST? The HIGHEST COST? 6. What are the two objectives of Inventory Control? 7. Why is a physical inventory necessary and how often should it be taken? 8. During a period of RISING COSTS which Inventory Method values the COST OF MERCHANDISE SOLD at the LOWEST COST? The Highest Cost? 9. On a classified balance sheet where is Merchandise Inventory found