Week 3 Discussions

Please make sure each response is at least 100 words and if you would like the reading material I was given, just let me know

• What activities are unique to merchandise businesses?
• How does management account for the additional task unique to a merchandise operations?

What are the pros and cons of reversing entries?

Describe some of the aspects of sales under a perpetual inventory system.

What are the closing entries?  What is the purpose?

What are the calculations and major components of cost of goods sold?

Identify differences in merchandise and service operations

Interpret financial statement ratios.