(1) One advantage to using a perpetual inventory system is that the company never has to physically count the inventory.

	True
	False

(2) The weighted-average inventory method will likely result in neither the highest nor the lowest ending inventory.

	True
	False

(3) When calculating accounts receivable turnover, a company would prefer a higher number rather than a lower number (within reason).

True

False

(4) When performing a bank reconciliation, checks outstanding are added back to the bank balance.

	True
	False