Fall Fair Celebrations – Chapter 4-5 – Wednesday October 2nd

These are questions that I am fond of: 1.) E4-3 Page 183 (Closing Entries) 2.) E5-2,3,4,5,6 (Journal Entries for a merchandising business using the perpetual system) 3.) E5-11 (Gross Profit Margin, Profit Margin) 4.) E4-10 (Focus on: Working Capital, Current Ratio, Acid Test Ratio, Gross Profit Margin, Profit Margin) Test Format: Multiple Choice 4 Accounting Problems

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Inventory Costing

Inventory Control Determining ownership- Goods on Consignment/ Goods in Transit Lower of Cost and Market The effects on the Income Statement and Balance Sheet Inventory Cost flow methods: Specific Identification, FIFO, LIFO, Average Cost Video Resources: Inventories   images: pixabay.com

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