Which of the following statements is correct?
A) Quantity discounts will not change the total inventory costs of the item.
B) Inventory levels can be lowered by raising the order quantity.
C) You must know the ordering cost to use the EOQ concept.
D) If stock is not received all at once into inventory, then EOQ formula can be modified and
used.
E) None of the above is correct.
D
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The cost of goods manufactured is recorded with a debit to the Finished Goods Inventory account and a credit to the Work-in-Process Inventory account
Indicate whether the statement is true or false
Which of the following statements is true concerning traditional and Roth IRAs?
A) The investment income portion of Roth IRA distributions must be reported as taxable income. B) Roth IRA contributions are tax deductible. C) There are minimum distribution requirements for traditional IRAs. D) There are no limits on the tax deductibility of traditional IRA contributions once the account owner has reached age 50.