ACCT212 Course Discussions Week 4

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ACCT212 Course Discussions Week 4
In this post, you’ll discuss the three primary methods of assessing ending inventory value, and what each…

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ACCT212 Course Discussions Week 4

ACCT212 Course Discussions Week 4

All Students Posts – 107 Pages 

Inventory Management – 63 Pages 

Students are encouraged to use online collaboration tools to create a submission 2-4 minutes in length, discussing the three primary methods of assessing ending inventory value, what each method represents and how the method chosen can affect cost of goods sold and gross margin.

In this post, you’ll discuss the three primary methods of assessing ending inventory value, and what each method means to the business.

Inventory Management focuses on the processing of inventory as it is moved through purchasing and selling inventory in a business, please see this Cost of Goods Sold video that focuses on this process. Remember the Cost of goods sold or as we accountants say COGS for short, are the costs incurred to ready the product or service for a customer or client! 

There are 3 primary methods that businesses use to calculate the cost of production through COGS and Ending Inventory on hand…In this post, you’ll discuss the three primary methods of assessing ending inventory value, and what each method means to the business…

Course Project – 46 Pages 

Go to Course Home and review the Course Project Overview. Continue to use the Course Project template from the Files section. In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover all of the requirements to ensure an opportunity for your successful completion of the Course Project.

Let’s start with Exercise 3-22A and practice developing journal entries to make adjustments. Select one of the six transactions and develop the adjusting journal entry. If you are using an example found in the textbook do mention the page number.

Remember this is a journal entry and in a journal entry there are 2 accounts being changed and affected at the same time, with every transaction there is a DR. Debit and a CR. Credit account moved in value.

So, when we read the business transaction aloud, think of what type of primary account, from within the accounting equation that is being moved or changed in value first, then focus on the sub accounts to place within your journal entry…