urgent plase

4 What are the two inventory methods used to determine the number of units in inventory. a. Current and long-term assets. b. The current inventory method and the historic inventory method. c. The periodic and perpetual inventory methods. d. Any inventory method that accounts for inventories over 12 months 5. What is a current asset? a. An asset that will be turned in cash within 12 months. b. An asset that has a life of more than one year and will be used to generate revenues in the future. c. Is the same as an intangible asset. d. An asset that is owed to someone else. 6. The net method of recording the sale with the discount violates the: a. Revenue recognition principle. b. Expense recognition principle. c. Cost principle. d. None of the above. 7. If you were a CEO of a publicly held corporation and wanted to increase your company's profitability in times of rising prices which inventory valuation method would you use? a. LIFO b. Weighted average. c. FIFO d. Specific identification