19 taveritory records for Marvin Company revealed the following: 725 Number of Date Transaction Unit Cost Mar Beginning Inventory 1.000 $720 Mar. 10Purchase 600 Mar. 16 Purchase 70 7.30 Mar 23 Purchase 600 7.35 Marvin gold 2.500 units of inventory during the month Ending inventory assuming weighted- average cost would be: (Round weighted average unit cost to decimals) Al $5,082 B) $5.107 C) S5 077 D) SS 005 20) The lower of cost and net realizable value rule causes losses in the value of inventory to be recognized in the period when A) The inventory is purchased B) Cash collection from the customer fails to o ur C) The inventory is sold D) The value of inventory declines below cost. 2. The practice of using the lower of cost and not realizable value to evaluate inventory reflects which of the following accounting principles? A) Matching principle. B) Revenue recognition C) Conservatism D) Materiality 22) The inventory tumover ratio measures: A) The portion of inventory that becomes obsolete each period B) How many times the company purchases inventory during the current reporting period C) The times per period the average inventory balance is sold. D) How many days it takes to collect its sales of inventory sold on account The times per company purchase olete each period