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Indicate the Financial Statement Where Each Item Listed Below Would

Question 160

Short Answer

Indicate the financial statement where each item listed below would be found.
BS = the balance sheet
IS = the income statement
CF = the statement of cash flows
F = the notes to the financial statements
N = The item is NOT part of GAAP-based accounting disclosure.
______ 1.cash collected from customers
______ 2.cash paid to suppliers
______ 3.the fair market value of inventory,which includes the desired profit margin
______ 4.the cost flow method adopted for inventory valuation
______ 5.inventory
______ 6.cost of goods sold
______ 7.sales

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