Use the Following Information for the Month of July for Questions

question 92

Multiple Choice

Use the following information for the month of July for questions.
-If ABC Inc. used the average cost formula instead of FIFO, gross profit from the July 8 sale would be

• A) higher.
• B) lower.
• C) the same.
• D) cannot be determined.

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Definitions:

Initializing Pointers

The act of assigning a starting address to pointer variables so they point to the correct memory locations.

Address

The specific location of a piece of data in memory, represented numerically.

Array

An array is a data structure consisting of a collection of elements, each identified by at least one array index or key.

Array Address

The memory location of the first element in an array, from which the positions of subsequent elements can be calculated.