Inventory AND COST OF SALES
Quiz by Khatoon Ahmed Mansoor AL Halwachi
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10 questions
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- Q1What is a FIFO?First out , First inWeighted AverageFirst in, First outStock30s
- Q2Gross Profit =Sales + COGSSales * COGSBeginning Inventory + Cost of PurchasesSales – COGS30s
- Q3?????=Units available for sales – Units soldNo of Ending Inventory unitsCost of Goods Available for SalesCOGSGross Profit30s
- Q4Cost of Goods Available for Sales= Beginning Inventory + Cost of Purchases= Beginning Inventory / Cost of Purchases= Beginning Inventory * Cost of Purchases= Beginning Inventory - Cost of Purchases30s
- Q5COGS =Cost of Goods Available for Sales + Ending InventoryCost of Goods Available for Sales * Ending InventoryCost of Goods Available for Sales – Ending InventoryCost of Goods Available for Sales / Ending Inventory30s
- Q6If a Beginning Inventory = 130000 and Cost of Purchases = 200000 Compute cost of goods available for sales3300001300002000007000030s
- Q7Units available for sales = 15,000 and Units sold= 4000 Compute the No of Ending Inventory units11,0003.7560,000,0001900030s
- Q8Gross Profit = Sales – COGSTrueFalse30s
- Q9If a Sales= 16000 and COGS= 6000 Compute Gross Profit16000022,00096,000,00010,00030s
- Q10WA Method isWeighted AverageFirst in, First outwithdrawal30s