Whats the answers

34) Semithville Furniture sold 15 desks, with a cost of $7500, for $11,250 on account. Smithville uses the Perpetual inventory system. Which of the following is the correct way to record this transaction? 34) Credit Debit A) Accounts 11,250 Accounts Receivable 11,250 Cost of Goods Sold Debit Credit 11250 B) Accounts les Revenue 11,250 Accounts Accounts Receivable Debit Credit 11,250 Sales Revenue 11,250 7500 Merchandise Inventory 7500 D) Accounts Debit Sales Revenue 11,250 Accounts Receivable 11,250 5) Which of the following states that the business should use the same accounting methods from 35) period to period? A) conservatism ) disclosure principle B) materiality concept D) consistency principle 36) Which of the following principles states that a business should not report anticipated gains? A) disclosure 36) B) conservatism D) materiality concept The tracking of inventory shrinkage due to theft, damage, or errors is done with the help of a (n) 37 f nventory. A) sale B) authorization C) physical count D) delivery 38) Which of the following inventory costing methods uses the cost of the oldest purchases to compute the cost of goods sold? 38) A) specific identification C) weighted-avernage B) last-in, first-out D) first-in, first-out 39) A company purchased 200 units for $30 each on January 31. It purchased 220 units for $33 each on February 28. It sold a total of 350 units for $45 each from March 1 through December 31. What is the 39 cost of ending inventory on December 31 if the company uses the first-in, first-out (FIFO inventory costing method? (Assume that the company uses a perpetual inventory system,) A) $1800 B) $2100 C) $300 D) $2310