05 Jun IDENTIFY THE THREE (3) PRIMARY ADVANTAGES AND THREE (3) PRIMARY DISADVANTAGES OF USING THE COSTING METHOD
Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method
Use the Internet to research the annual report of at least one (1) merchandising company. Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.Provide support for your response. young on Wed, 2016-11-09 01:54 9612 4.542965: 5.00 order_22038_ACC_DQ body preview (0 words)file1.doc preview (366 words)Running Head: � PAGE * MERGEFORMAT �1� LIFO � MERGEFORMAT �3�Walmart Method(Name)(University)Determine which costing method Out [LIFO], First In First weighted used inventory selected Chain of values on ( In First LIFO According to Wahlen LIFO is employed in Walmart stores are located United States For reason Walmart stores, operations in a analysis LIFO Preference emanates the fact it factors in evaluation. LIFO costing method ta purposes. of goods last goods stock. As a the sold rises. firm lesser profit in makes cash. books, therefore the pays fewer three (3) – – – more tet follows – – – Elly1234 on Tue, 2016-11-08 04:48 2 : 5.00 ACC_DQ body preview (0 words)file1.doc preview (339 words)Question: the Internet to the annual of at (1) merchandising company. which costing (Last In Out [LIFO], First First Out average is used your Identify the primary three (3) primary disadvantages of the costing and weighted average) that is to Provide response. merchandize company chosen the is and its report According to Note 8; ‘all inventories are at the of and value. Cost for U.S. inventories determined last-in, (“”) basis. was and 28% at December 31, 2015 2014, other methods first-out – – – more tet follows – – – efficienteacher on Tue, 2016-11-08 03:09 0 0price: 4.90 advantages and disadvantages of each method and the Company using one of the method body preview (0 words)file1.doc preview (498 words) Inventories (KSS) ’ company merchandise inventory on FIFO it the from 2005 the believes that a Financial reporting with company changing business environment with respect sourcing of AND OF EACH First in First method based on assumption stock issued of d are used determine the or value of are latest costs. is realistic system: oldest items are usually issued out. or do ariseIt is easy to of don’ fluctuate values reflect the latest costs – – – more tet follows – – –
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