ACC 290 Week 4 Discussion Question 1 / acc290dotcom
For more course tutorials visit www.acc290.com How would you calculate cost of goods sold? What items make up cost of goods sold? How does beginning and ending inventory affect cost of goods sold? What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise?
For more course tutorials visit
www.acc290.com
How would you calculate cost of goods sold? What items make up cost of goods sold? How does beginning and ending inventory affect cost of goods sold? What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise?
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<strong>ACC</strong> <strong>290</strong> <strong>Week</strong> 4 <strong>Discussion</strong> <strong>Question</strong> 1<br />
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How would you calculate cost of goods sold? What items make up cost of goods sold?<br />
How does beginning and ending inventory affect cost of goods sold? What are the journal<br />
entries a merchandising organization would use to record the purchase and subsequent<br />
sale of merchandise? How would these transactions differ with a periodic versus a<br />
perpetual inventory system? Why are perpetual inventory systems so much more popular<br />
today than back in the early 1960s and earlier? Why would a company employing a<br />
perpetual inventory system still take a physical inventory periodically?
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