Resources for the Holidays

If you are experiencing any difficulties during the holidays and need someone to reach out to, please use the following resources:

Kids Help Phone – 1-800-668-6868 or go to www.kidshelpphone.ca (available 24 hours a day)

Crisis Response Service – call (416) 410-8615 (available 7 days per week, 24 hours a day)

Tangerine Walk-In Counselling (Visit www.tangerinewalkin.com for clinic location & hours)

Rapport Family and Youth services (visit www.rapportyouth.com)

Have a safe and restful holiday on behalf of the NPSS Guidance Team.

Accounting for a Merchandising Business – Inventory

Discussion:

  • What is a merchandising business?
  • How is it different from a service business?

Discussion:

  • Wholesaler vs. Retailer
    What is inventory?
  • Why is it so critical?

Discussion: Two Aspects – BS (Current Asset) and IS (COGS)
Periodic vs. Perpetual inventory systems – The Inventory Cycle
What is COGS? – calculation and using the equation

Additional Review and Practice:

  1. Read 396-401, 404-406
  2. Complete Exercise 2-5 Page 402
  3. Questions 1-17 Page 401