ACC 290 (Principles of Accounting 1) Week 4 Complete

ACC 290 (Principles of Accounting 1) Week 4 Complete


Week 4



Week 4 DQ1



How would you calculate cost of goods sold? What items make up cost of goods sold?  How does beginning and ending inventory affect cost of goods sold?



Week 4 DQ2

What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise? How would these transactions differ with a periodic versus a perpetual inventory system?



Week 4 DQ3

Why do generally accepted accounting principles require the use of lower of cost or market in valuing inventory?  What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles? How does a company determine what cost flow assumption they should use?



Assignments



ACC 290 Week 4 Individual Assignment Week Four Problem 4-8A .



ACC 290 Week 4 Learning Team Assignment Financial Reporting Problem, Part 1. (1500+Words)



ACC 290 Week 4 Learning Team Reflection Summary. (400 Words)



ACC 290 Week 4 Weekly Summary.