chapter 6 inventories after studying this chapter you should be able to 1 describe steps in determining inventory quantities 2 explain the basis of accounting for inventories and describe the ...
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...Chapter inventories after studying this you should be able to describe steps in determining inventory quantities explain the basis of accounting for and cost flow methods financial statements tax effects each method lower or market indicate errors on compute interpret turnover basics balance sheet merchandising manufacturing companies significant current asset income statement is vital results gross profit net sales goods sold watched by management owners others merchandise characteristics owned company a form ready sale classifying environment may not yet classified into three categories finished work process various stages production completed raw materials components hand waiting used study objective prepare determine number units taking physical counting weighing measuring ownership...