Questions
Questions

SG5024E1 - Sage 50 Accounting Power User Test

Single choice

Choose one of the options listed below. Which are the two inventory costing methods available in Sage 50 Premium Accounting? 

Options
A.Average Cost and FIFO
B.FIFO and LIFO
C.LIFO and costing of specific items
D.Costing of specific items and average cost
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Step-by-Step Analysis
In this question, we’re asked to identify the two inventory costing methods available in Sage 50 Premium Accounting. Option 1: 'Average Cost and FIFO' — This is the correct pairing. In many bookkeeping systems, the common methods include average cost and FIFO (First-In, First-Out), and Sage 50 ......Login to view full explanation

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For which type of inventory would a company most likely use the specific identification method of inventory costing?

Inventory costs do not include ________.

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