What Ratio (Usually an Average from Prior Periods)can Be Used

question 71

Essay

What ratio (usually an average from prior periods)can be used in estimating the current period's ending inventory?.________ a)The amount of ending inventory will be $10 assuming the LIFO cost flow method was used.________ b)Cost of goods sold would be $24 assuming the weighted-average cost flow method was used.________ c)Cash flow from operating activities in June would be $28 assuming a FIFO cost flow method was used.________ d)Cash flow from operating activities in June would be $26 independent of what cost flow method was used.________ e)The amount of gross margin would be $26 assuming the FIFO cost flow method was used.

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Definitions:

Person-Situation Debate

A discussion in psychology regarding the relative influence of personality traits versus situational factors in determining individuals' behaviors.

Walter Mischel

A psychologist best known for his research on personality theory and cognitive-affective behavior, including the famous marshmallow test associated with delayed gratification.

Trait Theory

A theoretical framework in psychology that focuses on the identification and measurement of specific personality traits.

Situational Factors

External influences that affect an individual's behavior, choices, and psychological well-being at any given moment.