Please answer all questions for up vote incomplete answer will receive thumbs down

FIFO and LIFO are used to determine what?

• Total purchases in a period
• Average price per sale item
• Ending inventory value
• Current valuation of fixed assets

What percentage of social security tax withheld is matched by the employer?

50%

25%

100%

75%

What does the 2/10 net 30 payment term mean?

Receive a 2% discount if paid with 10 days, or full amount due in 30

Receive a 20% discount if paid within 30 day

Receive a 10% discount if paid within the first 2 weeks

Receive a 30% discount if paid within 10 days