(Answered) Question 1based on your readings from the text book and

Accounting

Question: 1) Based on your readings from the text book and your research, discuss how the inventory of a merchandising company differs from that of a manufacturing company. What are the two inventory Control Systems. Why is one better than the other? Explain with examples.

2) Companies need to determine the cost of goods sold and the value of ending inventory to be reported in the balance sheet. Based on your readings of the text book and other material, discuss the four important cost flow assumptions companies use to arrive at the cost of goods sold and the value of inventory on hand. Illustrate each cost flow assumption with examples.

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