The use of perpetual inventory systems is preferred where a: Multiple Choice large number of expensive inventory units exist. small number of expensive inventory units exist. large number of inexpensive inventory units exist.

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A: Step 1The correct option is C. Replacement cost". The lower of price or market (LCM) technique is…

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A: LCM (Lower of Cost or Market) approach:   It is an approach that values the inventory at historical…

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Q: There are numerous inventory costing methods including FIFO, LIFO, and Weighted Average methods.…

A: Ans. There are 3 methods to value inventory and these are FIFO, LIFO and weighted average. Different…

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A: Specific identification inventory method: It is a method used to value the inventory. It calculates…

Q: Which products and services type consists of multiple products or services? Multiple Choice…

A: Ans. Multiple products or services are sometimes bundled together in imperfect competitive market.

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A: The lower-of-cost-or-market (LCM) method is an inventory valuation approach that companies use to…

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Q: s) Which of the following is NOT a benefit of the Specific Identification method of tracking…

A: The specific identification method represents that the inventory is valued and tracked on an…

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Q: A two bin system for inventory control eliminates the need for the perpetual inventory tracking. Is…

A: Two bin system:Two bin inventory control system is a very useful system for material control. With…

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A: Perpetual Inventory System is an accounting system of valuing the inventory where there is a need…

Q: It's not unusual for large companies to use different inventory costing methods for different…

A: Large companies often deal with diverse types of inventory, ranging from raw materials to finished…