Version A uously d 3. The invent tory system employing accounting records that contin amount of inventory is called A) retail 8) periodic C) physical D) perpetual f les co has the following products in its ending inventory. Compute the lower or cost or market total for inventory applied separately to each product Market per unit $2.15 $2.50 $3.05 Product Quantity Cost per unit Jam Marmalade 150 370 260 $2.00 $2.65 $3.10 A) $2,040.50 8) $2,086.50 C) $2,018.00 D) $2,109.00 5. and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise Merchandise is ordered on November 10; the merchandise is shipped by the seller is received by the buyer on November 18; the entry is made in the buyer's accounts on November 20. The credit period begins with what date? A) November 10 B) November 13 C) November 18 D) November 20 6. When a merchandiser makes sales by credit cards such as VISA or MasterCard what is the journal entry to record payment of the credit card fees periodically? A) debit Credit Card Expense; credit Cash 8) debit Credit Card Expense; credit Inventory C) debit Cost of Goods Sold; credit Cash D) debit Cash; credit Credit Card Expense