$2.$ Which statement is true regarding the purpose of using absolute cell referencing in your spreadsheet?

multiple choice $1$

An absolute cell reference contains a dollar sign $($$$)$ in the row or column coordinate $($or both$)$ to indicate the result is a currency value.

You can use an absolute reference to keep a row and$/$or column constant.

$3.$ Which statement below is true regarding the application of the three inventory costing methoods?

multiple choice $2$

FIFO results in a lower gross profit when inventory costs are rising.

LIFO results in a lower gross profit when inventory costs are rising.

Weighted Average results in a lower gross profit when inventory costs are rising.

$4.$ Companies can choose the most appropriate inventory costing method for their business $($FIFO$,$ LIFO, and weighted$-$average cost$)$ for internal $($management$)$ reporting, but not for external and tax reporting.

multiple choice $3$

True

False