In the prior year, Yellow Co had an inventory turnover of 9 times. In the current year, the company's inventory turnover is 7.8 times. What does this information indicate? Yellow Co. is more profitable on their inventory O Yellow Co.'s inventory turnover improved. Yellow Co became more efficient at selling inventory O Yellow Co. may be carrying too high of an inventory balance. Assume a company had the following inventory information: Beginning Inventory: 90 units @ $4.00 cost per unit Purchases: 180 units @ $7.00 cost per unit If the company then sold 90 units, what is the ending inventory under LIFO? O $1,260 0 $360 O $630 $990 Assume a company had the following inventory information. Beginning Inventory: 90 units @ $4.00 cost per unit Purchases: 180 units @ $7.00 cost per unit If the company then sold 100 units, what is the amount of COGS under FIFO? O $430 O $700 O $360 O $1,260 What is the effect of an inventory purchase discount being recorded? O No impact on inventory costs O Decreasing inventory costs o Increasing Accounts Payable o Increasing inventory costs Which of the following statements is true regarding FOB Shipping Point? O The seller is responsible for the goods while in transit O The point of transfer is when the inventory arrives at the buyer. O The buyer is responsible for paying shipping costs. O The seller owns the inventory while in transit