Describe merchandising activities and identify income components for a merchandising company.

Describe merchandising activities and
identify income components for a merchandising company.

Identify and explain the inventory asset and cost flows of a
merchandising company

Analyze and record transactions for merchandise purchases using a
perpetual system.
 Analyze and record transactions for merchandise sales using a
perpetual system.
 Prepare adjustments and close accounts for a merchandising
company.
Define and prepare multiple-step and single-step income
statements.