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Fanancial Accounting-Instructor Tunck B. Simple avernge o Whach of the folkowingae) ueaout the rinciple changins from FIO in onve ace to have a it requires a company to c. Both a and b only d. it is also called the Full-disclosure Principle e. Both a and d only accounting re 7. For the current fiscal year, the following data were ta aowances, S8.00 Invoice cost of purchases, $41 discounts, $4,000: and Transportation-in, $2,0o0. Merc 50.000. taken from $8,000: 10,000; Purchase returns and of the year was $110,000, and at the end of the year it aet cost of purchases? $412.000 $410,000 $400,000 $360,000 e none of the above d. The Cost of Goods Sold for the data a. 8. in the previous question is $440,000 S370,000 S360,000 $358,000 b. e. none of the above 9. In a periadic average cost system: R A new weighted-average unit cost is calculated each time additional un B. The cost allocated to ending inventory is the same as it would be in a p weighted-average unit cost is determined following each sale. the reporting period by total number of units available during the pe system. C. The The average cost per unit is determined by dividing the cost of goods E. More than one above is correct. (continue to the next page)