Your Company purchased two identical inventory items The item purchased first cost $25 00 and the item purchased second cost $20 Your Corporation sold one of the items for $30 00 Which of the following statements is true Cost of goods sold will be higher if Your Corporation uses FIFO rather than weighted average Ending inventory will be lower if Your Corporation uses weighted average rather than FIFO Sales revenue will lower if Your Corporation uses LIFO rather than FIFO Gross margin will be lower if Your Corporation uses LIFO rather than weighted average Next

Question

Your Company purchased two identical inventory items  The item purchased first cost $25 00 and the item purchased second cost $20  Your Corporation sold one of the items for $30 00  Which of the following statements is true  Cost of goods sold will be higher if Your Corporation uses FIFO rather than weighted average  Ending inventory will be lower if Your Corporation uses weighted average rather than FIFO  Sales revenue will lower if Your Corporation uses LIFO rather than FIFO  Gross margin will be lower if Your Corporation uses LIFO rather than weighted average  Next

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Question

Your Company purchased two identical inventory items. The item purchased first cost $25.00 and the item purchased second cost $20. Your Corporation sold one of

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