Discussion: Inventory Accounting
Why do you value ending inventory and cost of goods sold. What are the cost flow assumptions used to value the ending inventory and cost of goods sold. Discuss the various cost flow assumptions illustrating the effect of each cost flow assumption on the net income and on the current assets. You can support your answers with the example of real company's balance sheet.
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.