MUST HAVE LISTED BOOK Edmonds, T. P., Edmonds, C., McNair,F. M., & Olds, P. R. Fundamental Financial Accounting Concepts (9th edition). New York, NY: Mcgraw Hill Higher Education.ISBN: 9781259296802P

MUST HAVE LISTED BOOK

 Edmonds, T. P., Edmonds, C., McNair,F. M., & Olds, P. R. Fundamental Financial Accounting Concepts (9th edition). New York, NY: Mcgraw Hill Higher Education.

ISBN: 9781259296802

Part 1

1. You own Widgets ‘R Us and are preparing your year-end financial statements: What inventory accounting method do you use and why (FIFO, LIFO, or Weighted-Average)? What are its advantages and disadvantages?
2. You own Widgets ‘R Us and are preparing your year-end financial statements: What activities should you perform to correctly account for your inventory at year-end?
3. You own Widgets ‘R Us and are preparing your year-end financial statements: Why is it important to track inventory? What does this information tell you about your business?

Part 2

1. Exercise 5-1A
2. Exercise 5-2A
3. Exercise 5-3A
4. Exercise 5-4A
5. Exercise 5-5A