How would a business measure inventory turnover? (one answer) The cash flow from investing activities is reduced by buying equipment (one answer) debit credit debit balance If the debits in an account are larger than the credits, the account will have a credit balance (one answer) = A major shortcoming of the LIFO method is that in a period of inflation, the costs allocated to ending inventory may be significantly overstated in terms of current cost (one answer) under. Before you can accurately show the net income of a business you must consider other income and expenses, as well as interest (one answer) Inventory purchases minus inventory sales Inventory at the beginning of the year minus inventory at the end of the year Inventory at the end of the year minus inventory at the beginning of the year Cost of goods sold divided by average inventory Average inventory divided by cost of goods sold Inventory sales plus inventory purchases True False Only true for businesses not investing Only true for businesses that have investments Depends on the business model True Only true for debit accounts Only true for asset accounts True False Only true for individual unit valuation Only true for stackable inventory Only true for merchandise inventory Only true if average cost valuation is used True False Only true for businesses losing money Only true for profitable businesses Depends on the business model False Only true for credit accounts Only true for liability accounts