ACCT 504 Accounting and Finance, Managerial Use and Analysis
Week 3 Discussions and Case Study
Week 3 DQ 1: Merchandising Operations and Inventory
Merchandising Operations and Income Statements (Graded)
In this area, we will discuss the accounting for inventory transactions of merchandising companies, the two formats of preparing the income statement, and how to evaluate the profitability of a merchandising company. How is the income statement of a merchandising company different from that of a service company?
Week 3 DQ 2: Merchandising Operations and Inventory
Inventory Cost-Flow Assumptions (Graded)
In this area, we will talk about how companies determine the year-end inventory value and cost of goods sold using one of the cost-flow assumptions. We will also discuss the impact of choosing a certain cost-flow assumption on the tax liability and other financial statement numbers of a company. Finally, we will discuss how to analyze inventory numbers. Why is inventory important for a business? How is inventory different from other assets of the business?
Week 3 Assignments:
Case Study 1 The Complete Accounting Cycle (Source 1)
Case Study 1 The Complete Accounting Cycle (Source 2)
Purchase the answer to view it