Which of the following items would be reported in the "Other expenses and losses" section of a multi-step income statement?

A) Freight out.

B) Salaries and wages expense.

C) Gain on disposal of plant assets.

D) Casualty loss from vandalism.

2. All of the following are advantages of a perpetual inventory systems except:

		Ability to determine inventory quantities at any time and check whether the amount actually on hand agrees with the inventory records.
		Ability to produce interim financial statements because cost of goods sold may be determined at any time.
		Better control over inventories
		Ability to obtain higher sales prices for the inventory.