19)the avoided cost method must be used to calculate the amount of interest required to be capitalized except for personal property with an estimated production period of one year or less

true

false

20) excess inventory is treated as subnormal goods and is valued at the bona fide selling price less the direct cost of disposition under the lower of cost or market rules

true

fasle

21) in order to claim a deduction, estimates of shrinkage are never permitted

true

false

22)if a taxpayer uses the standard cost method of allocating inventoriable cost, it may treat positive variances as period costs (expensed) and negative variances as inventoriable

true

false

23) if supplies are used in the manufacturing of merchandise, the cost of the supplies is not deductible, but is instead taken into account in determining the inventoriable costs

true

fasle