We Show Antoinette Two Identical Glasses Containing Equal Amounts of Water

question 7

Multiple Choice

We show Antoinette two identical glasses containing equal amounts of water. We pour the water from one glass into a wide,shallow bowl. Antoinette tells us that the other glass has more water than the bowl does. (You may recognize this as Piaget's conservation of liquid task.) We ask Antoinette to explain why she thinks the glass and bowl have different amounts of water so that we can identify possible strategies to help her develop conservation of liquid. By doing so,we are engaging in performance assessment of a ________ for purposes of ________ assessment.

• A)product; formative
• B)product; summative
• C)process; formative
• D)process; summative

---

Definitions:

Cost-to-Retail Ratio

A method used in retail to convert the cost of goods available for sale into the retail price.

FIFO Cost

A cost flow assumption for inventory valuation where the first items purchased are the first ones to be used or sold.

Retail Inventory Method

An accounting method used by retailers to estimate inventory cost by calculating a cost-to-retail percentage and applying it to the retail price.

Beginning Inventory

The value of goods available for sale at the start of an accounting period.