Discussions
Please make sure each response is at least 100 words and if you would like the reading material I was given, just let me know
• What activities are unique to merchandise businesses?
• How does management account for the additional task unique to a merchandise operations?
• What are the pros and cons of reversing entries?
• Describe some of the aspects of sales under a perpetual inventory system.
• What are the closing entries? What is the purpose?
• What are the calculations and major components of cost of goods sold?
• Identify differences in merchandise and service operations
• Interpret financial statement ratios.