ACC 205

ACC 205 WEEK 3 COMPLETE

1. Specific identification method:

2. Inventory valuation methods:

3. Perpetual inventory system:

4. Inventory valuation methods:

5. Depreciation methods:

6. Depreciation computations:

7. Depreciation computations:

ACC205_Week_Three_Exercise_Assignment:

Inventory

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Specific identification method.
Inventory valuation methods: basic computations.
3. 3. Perpetual inventory system: journal entries
4. 4. Inventory valuation methods: computations and concepts
5. 5. Depreciation methods.
6. 6. Depreciation computations.
7. 7. Depreciation computations: change in estimate.

Acc 205 Week 3_DQs and Journal

Week 3 DQ 1

1. The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controllers bonus is based on the next income. It is the controllers belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods?

ACC 205 WEEK 3 COMPLETE