please do line wise

18) A merchandiser purchases inventory on account under a periodic inventory system with terms cf2/10 n/30. The merchandiser would: A) credit Inventory on date of payment if the discount is taken. B) credit Inventory on date of payment if the discount is not taken. C) credit Purchases Discounts on date of purchase if the discount is taken. D) credit Purchases Discounts on date of purchase if the discount is not taken. 19) Under a periodic inventory system, the entry to record the return of inventory sold on account for $250 with a cost of S l 85 would be recorded by the seller as a: A) credit to Accounts Receivable for $250. B) debit to Sales Returns and Allowances for $185. C) credit to Sales Revenue for $250. D) credit to Cost of Goods Sold for $185. 20) Cost of goods sold is 3 \"8,000, ending inventory is $12,000 and purchases is $100,000. What is beginning inventory? A) $20,000 B) 532,000 C) $120,000 D) $102,000 21) A perpetual inventory system: A) keeps a running record of all goods. B) can be maintained only with computer soware. C) is used only for inexpensive goods. D) does not require a physical count at the end of the scal year. 22) When the FIFO method is used, ending inventory is assumed to consist of the; A) oldest units B) most recently purchased units. C) units with the highest per unit cost. D) units with the lowest per unit cost. 23) When prices are falling, the ending inventory balance reported on a FIFO basis is generally: A) lower than on a weighted-average basis. B) greater than on a weighted-average basis. C) equal to ending inventory reported on a weighted-average basis. D) equally likely to be higher or lower on a weighted-average basis as opposed to a FIFO basis. 2.4) An item is considered material if: A) it facilitates comparison with the nancial statements of another company in the same industry. B) its inclusion in the nancial statements would cause a statement user to change a decision. C) its dollar value is greater than 10% of net income. D) it is accounted for using a treatment that is not normally allowed by generally accepted accounting principles. 25) The perpEtual and periodic inventory systems will produce identical cost of goods sold and ending inventory balances using which of the following cost flow assumptions? A) FIFO B) average C) weighted-average D) just in time 26) Ending inventory for Commodity X consists of 20 units. Under the FIFO method, the cost of the 20 units is $5 each Current net realizable value is $4.75 per unit. Using the lower-of-cost-and-net -rea]izable-value rule to value inventory, the balance sheet would show ending inventory of: A) 35.00. B) $4.75. C) $95.00. D) $100.00