Agar and Carrageenen Are Products Derived from

question 40

Multiple Choice

Agar and carrageenen are products derived from

• A) red algae.
• B) green algae.
• C) brown algae.
• D) water molds.
• E) diatoms.

---

Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, becoming the next period's beginning inventory.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals, such as monthly or annually, rather than continuously.

FIFO

"First In, First Out," an inventory valuation method assuming that the oldest items in inventory are sold or used first.

LIFO

A inventory valuation method where the last items added to inventory are the first ones sold, standing for "Last In, First Out."