24. inventory turnover ratio compares which two figures?

Net sales and average inventory

net income and average inventory

cost of goods sold and average inventory

cost of goods sold and net sales

23 Which inventory valuation method is a more precise matching of historical cost revenue?

FIFO

LIFO

Weighted average

Net realizable value

21. when a sale ofmerchandiseis on an account which entry should me made?

debt cash credit sales

debit accounts receivable and credit sales

debt accounts payable and credit income

debt retained earning and credit sales

20. Which of the following accounts would be found in merchandising business accounting system?

sales returns and allowance

transportation in

purchase discounts

all of the accounts will be found