16 of 30 View Policies Current Attempt in Progress Which of the following statements about the weighted average cost formula is true? O If prices are rising, companies prefer it because it lowers their tax liability O It is the most popular method in Canada. O In times of rising prices, weighted-average will produce a higher net income than FIFO. -/1 E O In time of rising prices, weighted average produces an inventory cost per unit that is higher than the cost per unit of cost of goods sold. Save for Later Attempts: 0 of 1 used Submit Answer View Policies Current Attempt in Progress Which of the following is true under a periodic system? O ACOGS expense is recognized each time a sale is made. O The inventory account is not updated with each purchase. O Inventory shrinkage is easily identified. O This system can be costly to implement. Save for Later Attempts: 0 of 1 used Submit Answer View Policies Current Attempt in Progress Very high turnovers O are always the goal of management. O may create stockouts. O are a measurement of profitability. O are unaffected by Inventory writedowns Save for Later Attempts: 0 of 1 used Submit Answer Question 13 01 30 View Policies Current Attempt in Progress Amajor consideration for a company when selecting a supplier is O supplier location O online presence O company profitability O inventory valuation Save for Later Attempts: 0 of 1 used Submit Answer Question 20 of 30 View Policies Current Attempt in Progress < The cost of goods available for sale includes O just beginning inventory. O beginning inventory less ending inventory. O beginning inventory plus purchases less ending inventory. O beginning inventory plus purchases. Save for Later -/1 Attempts: 0 of 1 used Submit