Cost of goods sold and ending inventory

Reference no: EM13183348

Explain how the perpetual and periodic inventory systems differ, especially in determining Cost of Goods Sold and Ending Inventory? Once a retailer has chosen the inventory costing methods: First-In-First-Out(FIFO), Last-In-First-Out(LIFO), weighted average and specific identification. In times of changing inventory prices (both inflation and deflation) how can the choice of the inventory costing method impact reported profits?

Reference no: EM13183348

Questions Cloud

What is the largest value that herfindahl index could take : Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..

Explain hybridization and geometric shape and bond angles : Indicate for each carbon in the following molecules the hybridization, geometric shape, and bond angles: a) CH3CH3

How choice of depreciation method affects reported profits : Demand and rental revenues for vans are relevantly consistent through the vehicle life, regardless of condition or appearance. The vans are disposed of only when they are completely worn out. The vans are generally completely worn out once they ha..

What return-interest rate are you earning on your bond : You purchased a $10,000.00 face value commercial bond for $9000.00 on June 1, 2007. The bond pays $500.00 interest at the end of each six months. It is now June 1, 2008. Thus, you have already received two $500.00 payments. The bond matures in fiv..

Cost of goods sold and ending inventory : Explain how the perpetual and periodic inventory systems differ, especially in determining Cost of Goods Sold and Ending Inventory?

State what is the ph of a buffer prepared by adding the acid : What is the pH of a buffer prepared by adding 0.45 mol of the waek acid HA to 0.608 mol of NaA in 2.00 L of solution? The dissociation constant Ka of HA is 5.66e-7

Explain the antideficiency act : What restriction on federal employees are contained in the the Antideficiency Act and Discuss why Best Practices Federal Financial Statement Preparation includes discussions of lessons learned.

Why are prices for pharmaceuticals higher in the us : What would be the short-term and long-term effects of restricting or removing patent protection of pharmaceuticals? Be sure to discuss prices, industry profits, and consumer welfare2. Why are prices for pharmaceuticals higher in the United States ..

What is the final concentration and the volumes are additive : A 129-mL portion of that solution is diluted by adding 121 mL of water. What is the final concentration? Assume the volumes are additive.

User Account

All Pages