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devry acct304 week 6 discussions




Question;Week 6;Inventory Classification and Systems;(graded);Merchandise Inventory;is assets held for sale in the ordinary course of business of wholesale and;retail companies. Manufacturing inventories are raw materials or WIP that will;be used or consumed in the production of finished goods to be sold. Review the Annual;Report that you chose for the Week 3 Discussion topic #1 and based on what;you've read in the text and in the Becker materials, explain how inventory is;presented on the balance sheet and what further information you found in the;footnote disclosures about the inventory method and "Impairment of;Inventory", if any. Q2;nventoriable Costs/Cost-Flow;Assumptions (graded);We read about the;Perpetual and the Periodic Inventory System. Regardless of which system is;used, under both, we need to assign dollar amounts to the Ending Inventory and;Cost of Goods Sold so that we can trace how costs flow through the system.;Start by identifying what is included in inventory and then discuss how each;item might be treated differently in the Perpetual vs. the Periodic Inventory;System.;="msonormal">


Paper#40384 | Written in 18-Jul-2015

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