What inventory accounting method do you use and why

Assignment Help Finance Basics

Reference no: EM13801169

1. You own Widgets 'R Us and are preparing your year-end financial statements:

What inventory accounting method do you use and why (FIFO, LIFO, or Weighted-Average)?
What are its advantages and disadvantages?

2. You own Widgets 'R Us and are preparing your year-end financial statements:

What activities should you perform to correctly account for your inventory at year-end?

3. You own Widgets 'R Us and are preparing your year-end financial statements:

Why is it important to track inventory?
What does this information tell you about your business?

Reference no: EM13801169

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What inventory accounting method do you use and why : 1. You own Widgets 'R Us and are preparing your year-end financial statements: What inventory accounting method do you use and why (FIFO, LIFO, or Weighted-Average)? What are its advantages and disadvantages? 2. You own Widgets 'R Us and are preparin..

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