1. To debit an account means: A. to increase the balance B. to decrease the balance C. left side of the account D. right side of the account E. None of the above are correct 2. To credit an account means: A. to increase the balance B. to decrease the balance C. left side of the account D. right side of the account E. None of the above are correct 3. Specific identification method for inventory is most useful for A. Homogeneous items B. Non homogeneous items C. All inventory items D. Similar items that cannot be differentiated E. None of the above are correct For questions 4-6, use the following information Units Cost/unit 10 $1 Begin. Inventory Jan 1 Purchases Feb 15 Jun 30 Sep 3040 20 S2 30 S $4 Sales 50 @S10/unit 4. Ending inventory using LIFO would be A. S190 B. $ 110 C. $ 200 D. S 500 E. None are correct 5. Cost of goods sold using weighted average would be A. $190 B. $110 C. $200 D.$150 E. None are correct 3-1