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The cost method that will yield an ending inventory value that is somewhere between possible high and low costs (prices using traditional costing method is the O Fifo Inventory cost method. OL. LIFO Inventory cost method. O c. weighted average Inventory cost method. O d. specific identification inventory cost method. The lower-of-cost-or-market method can be applied to a. each item in the inventory. O b. inventory as a whole. O c. each major class or category of inventory. O d. All of these choices are correct. The cash, land, inventory, and accounts receivable accounts are shown on the balance sheet. In which order should they be listed? O a. Land, Inventory, Accounts Receivable, Cash O b. Inventory, Accounts Receivable, Cash, Land O c. Cash, Accounts Receivable, Inventory, Land Od. Cash, Inventory, Accounts Receivable, Land 74 OT 15 Inventory should be reported as follows except O a. as a current asset on the balance sheet. O b. according to the chosen cost flow assumption. O c. at lower of cost or market. O d. as a long-term asset on the balance sheet. Which of the following is true regarding the perpetual LIFO inventory costing method? O a. Costs are included in the cost of goods sold in the order in which units were purchased. O b. Unit costs for each item are averaged each time a purchase is made. c. The cost of the units sold is the cost of the most recent purchases. d. All of these choices are correct

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