Question: QUESTION 3 Which inventory valuation method would yield the lowest cost of goods sold in periods of rising prices? O FIFO O Weighted-Average O None

of goods sold in periods of rising prices? O FIFO O Weighted-Average

QUESTION 3 Which inventory valuation method would yield the lowest cost of goods sold in periods of rising prices? O FIFO O Weighted-Average O None of the answers O Specific identification QUESTION 4 Assume that the Petty Cashier of a $400 petty cash fund has $340 in cash plus $60 in receipts at the end of the month The entry to replenish (reimburse) the petty cash fund will include O A credit to Cash for $60 O A debit to Cash for $60 O A debit to Cash for $340 O A credit to Cash for $340

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