t systema relative to a periodic 24. Which of the following is an advantuge of a perpetual inventory inventory system: A. A perpetual system is typically less expensive to implement rclative to a B. A perpetual system is tynically less technologically complex than a pe a periodic system. with a s Inventory theft and spoilage are difficult to determine D. A perpetual system does not require a physical inventory count None of the above are advantages of a perpetual inventory sysicm E. sold in a periodic 25. The inventory method that will always produce the same amount for cost of goods inventory system as in a perpctual inventory system is A. FIFO. B. LIFO. C. Weighted average. D. Retail inventory method. E. None of the above are correct. inventory balance under FFO and the ending inventory 26. The difference between the endin under LIFO is known as: -A. LIFO liquidation. B. LIFO rescrve. C. Average cost. D. Cost flow assumption E. Specific identification. 27. Q'Rourke Corporation purchased all of the outstanding stock of Beto Inc., paying $7.800,000 cash. O'Rourke Corporation assumed all of the liabilities ofBeto Inc. Fair valus of acquired assets and liabilities were: Fair Value $1,350,000 $6,750,000 Current assets (net) Property, plant, & equip. (net) 2 Liabilities O'Rourke recorded goodwill of $1,500,000. What was the fair value of the liabilities O'Rourke acquired from Beto? A. $14,400,000. B. $17,400,000 C. $11,700,000. D. $1,200,000. E. $1,800,000