What is the name of the method for assigning inventory cost to sales; the cost of available-for-sale units is divided by the number of units available to determine per unit cost prior to each sale that is then multiplied by the units sold to yield the cost of that sale? Select one or more: a. First-in-First-out (FIFO) b. Specific Identification c. Weight Average d. Last-in-First-out (LIFO) Question 2 Not yet answered Marked out of 0.50 Flag Question Which method of recording bad debts better follows the matching principle? Select one or more: a. Direct Method b. Allowance Method As a company is preparing the month end bank reconciliation a $2,000 deposit in transit is identified. An adjusting entry is required. Select one or more: a. FALSE b. TRUE Question 5 Not yet answered Marked out of 0.50 Flag question A company has $100,000 in net sales and $25,000 in Cost of Goods Sold. The company's Gross Profit equals: Select one or more: a. 4 b. $125,000 c. $100,000 d. $75,000