Warden Walker Is Intent on Making His Prison a Better

question 20

Multiple Choice

Warden Walker is intent on making his prison a better run facility. He believes that his officers need to become more professional. He wants all his officers to follow the American Correctional Association's Code of Ethics.
-All of the officers in the institution have met the training standards of the ACA. Therefore, each officer working in this prison has completed ______________ hours of pre-service training.

• A)240
• B)80
• C)40
• D)120

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Definitions:

Average Cost

A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale.

First-In, First-Out

An inventory valuation method where the cost of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Last-In, First-Out

An inventory valuation method where the costs of the most recently acquired items are the first to be expensed.

LIFO

An inventory cost methodology assuming the most recently added items to the inventory are sold first, short for "Last-In, First-Out."