ACC 290 Week 4 participation Financial Accounting, Ch. 6: Reporting and Analyzing Inventory

ACC 290 Week 4 participation Financial Accounting, Ch. 6: Reporting and Analyzing Inventory

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 ACC 290 Week 4 participation Financial Accounting, Ch. 6: Reporting and Analyzing Inventory
 

Read Ch. 6 of Financial Accounting. 

Consider the following as you read:

Inventory management is an essential function of any merchandising business. These functions are not just limited to buying and selling goods, but also include keeping track of cost and managing inventory levels:

 

 

 

What is the actual purchase price of goods?
 

 

What is the difference between gross sales and net sales?
 

 

With constant price changes in the economy, how does management assign a value to its inventory?
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