Indicate whether each of the following items is associated with

(a) Allocating the cost of inventories in accordance with the matching rule,

(b) Assessing the impact of inventory decision,

(c) Evaluating the level of inventory, or

(d) Engaging in an unethical action.

1. Computing inventory turnover

2. Valuing inventory at an amount to meet managements targeted net income

3. Application of the just-in-time operating environment

4. Determining the effects of inventory decision on cash flows

5. Apportioning the cost of goods available for sale to ending inventory and cost of goods sold

6. Determining the effects of inventory methods on income taxes

7. Determining the assumption about the flow of costs into and out of the company