Accounting-for-Inventory Transactions

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. We will also discuss how companies determine the year-end inventory value and cost of goods sold using one of the cost-flow assumptions. Finally, we will examine the impact of choosing a certain cost-flow assumption on the tax liability and other financial statement numbers of a company.


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Compare and contrast two different contemporary leaders in regard to their leadership styles: their strengths, weaknesses, and if they would be equally successful in other industries.