13. a. b. C Advances in computer technology, including cheaper mass memory and optical scanning,...
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Accounting
13. a. b. C Advances in computer technology, including cheaper mass memory and optical scanning, is causing more companies to change inventory methods and procedures from: Actual costing to standard costing. Standard costing to actual costing. Perpetual inventory to periodic inventory. d. Periodic inventory to perpetual inventory. None of the above. e. 14. In a period of declining prices, gross profit margin would be higher using: a b doo Average cost than FIFO. FIFO than average cost. Specific identification than average cost. FIFO than specific identification None of the above e 15. H-Lo Sporting Goods and Fast Out Sports Outlet are identical in every respect except that Hi-Lo uses FIFO and Fast Out uses average cost. Assuming merchandise costs are steadily increasing, the current ratio and profit margin for Hi-Lo, compared to Fast Out would be: Current Ratio Profit Margin Higher Higher b. Lower Lower Lower Higher d. Higher Lower None of the above a. C. e
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