Practice Quiz

Veterinary Practice Manager

Category - CVPM

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How is the unit cost of an inventory item calculated?
  1. amount paid to vendor + shipping + sales tax, multiplied by the quantity ordered
  2. amount paid to vendor - sales tax, divided by the quantity ordered
  3. amount paid to vendor + sales tax + shipping, divided by the quantity ordered
  4. amount paid to vendor + shipping - sales tax, multiplied by the quantity ordered
Explanation
Answer: C-The unit cost of an inventory item is calculated by amount paid to vendor + sales tax + shipping, divided by the quantity ordered
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