Accounting for a Merchandising Business Assignments | Custom Essay Help

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Many organizations fall under the classification of merchandisers and as such their accounting systems must consider some of the special circumstances that apply to this type of business, particularly regarding valuation of inventory.

For the two known inventory systems, discuss the following:
Identify the advantages and disadvantages of each system.
Summarize the cost flow methods used under each system.
Describe at least one ethical dilemma that can arise out of physical inventory counts.

Reflection

Reflect on the past two week’s lecture, material from readings and discussions. In at least 150 words, describe the main points or ideas you learned and how your interactions with classmates and/or your instructor built upon your learning. Describe which main point you found most important and how you believe it can be related to your life/career.