Week 3: Inventory And Depreciation Concepts

Week 3: Inventory And Depreciation Concepts Options Menu: Forum

Inventory includes all items that an organization has for sale in the normal course of its business.

1. Explain the interrelationship between inventory and cost of goods sold.

2. Describe the difference between FIFO and LIFO

3.  Explain and describe the five methods of computing book depreciation.