Discussion 1
Periodic and Perpetual Inventory Systems
Prior to beginning work on this discussion, read Chapter 5 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
• How are periodic and perpetual inventory systems different?
• Why does a merchandising company prepare a cost of goods section for the income statement?
• Provide an example of a perpetual cost of goods section.
Guided Response: Respond to at least two of your classmates by commenting on their posts. Though two replies are the basic expectation for class discussions, for deeper engagement and learning you are encouraged to provide responses to any comments or questions others have given to you. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.
Attendance Notification: To meet attendance requirements in this class, you must post to the discussion board at least once every 7 days. Completing work in MyAccountingLab does not count as attendance.
Discussion 2
Merchandise Inventory Methods
Prior to beginning work on this discussion, read Chapters 5 and 6 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
• Explain the four merchandise inventory methods and provide an example for each.
• How are financial statements affected by using the four different methods?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.