In a manufacturing business, inventory that is ready for sale is called:
INVENTORY TEST

Quiz
•
Specialty
•
University
•
Medium
Py Tran
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Raw materials
Work in process
Finished goods
Store supplies
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
This refers to items that the manufacturer has purchased or produced to use in manufacturing a product.
( Một thứ được mua hoặc được sản xuất để sử dụng trong quá trình tạo ra sản phẩm)
Raw material
Work in process
Finished goods
All incorrect
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bud's Place recorded the following data:
Date Units Cost
1/1 Inventory 500 per $2.40
1/8 Purchased 1,000 per $3.00
1/12 Sold 1,200
The weighted average unit cost of the inventory at January 31 is:
$2.40
$2.70
$2.80
$3.402
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Cost of goods sold is calculated from the following equation:
Beginning inventory – cost of goods purchased + ending inventory
Sales – cost of goods purchased + beginning inventory – ending inventory
Sales + gross profit – ending inventory + beginning inventory
Beginning inventory + cost of goods purchased – ending inventory
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A company purchased inventory as follows:
150 units at $6
350 units at $7
The average unit cost for inventory is
$6.00
$6.50
$6.70
$7.00
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Pasquale has the following inventory information.
July 1 Beginning Inventory 20 units at $19
July 7 Purchases 70 units at $20
July 22 Purchases 10 units at $24
A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the average-cost method, the value of ending inventory is:
$585
$606
$630
$660
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is not an inventory:
Machines
Raw materials
Finished Product
Consumable tools
Create a free account and access millions of resources
Similar Resources on Quizizz
10 questions
P231 Sustainable Site Planning Process

Quiz
•
University - Professi...
10 questions
Ori and the will of the wisps

Quiz
•
KG - Professional Dev...
10 questions
ROUND 5 ACCOUNTANT YARN?

Quiz
•
University
15 questions
Marketing Mix Quiz - PLACE

Quiz
•
1st Grade - University
10 questions
Cost Accounting 1

Quiz
•
University
15 questions
บัญชีต้นทุน1

Quiz
•
University
10 questions
Advertising

Quiz
•
University
10 questions
Warehouse Management Quiz

Quiz
•
University
Popular Resources on Quizizz
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade