Quiz

  1. 1
    Intermediate

    In the model base, after adding wastage to your Inventory control account ($), what is the Closing Inventory balance in the 5th period?

  2. 2
    Intermediate

    Which of the following is not a reason why we include both the COGS (inventory) control account and the Inventory control account to our financial statements at the same time?

  3. 3
    Intermediate

    Between the two control accounts (COGS and Inventory), how many entries are we making into the financial statements?