week 3 discussions x2

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Discussion 1

  • How are periodic and perpetual inventory systems different?
  • Why does a merchandising company prepare a cost of goods section for the income statement?
  • Provide an example of a perpetual cost of goods section.

Discussion 2

  • Explain the four merchandise inventory methods and provide an example for each.
  • How are financial statements affected by using the four different methods?

Each discussions is 200 words minimal

 
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