1. Which is not included in the three basic methods to calculate the value of inventory?
A. The first-in, first-out method
B. The last-in, first-out method
C. The average cost method
D. The estimate cost method
2. A market study suggests a value of $25,000 per acre for the property described here. Find the indicated total market value. Legal Description: The E 1/2 of the NE 1/4 of the NE 1/4 of the NE 1/4 of Section 1, Township 4 N, Range 4 E, San Bernardino Baseline and Meridian.
a. $250,000
b. $125,000
c. $500,000
d. None of the above
3. The ability to use an asset in manner other than the project being consider is which type of cost
A- Sunk Cost
B- opportunity Cost
C- Average Cost
D - Depreciation cost