ACC100 Discussion Question
access_timeAugust 22, 2020
perm_identity
Posted by Alex Tutor
folder_open
Solved Questions
and cost of goods sold: LIFO, FIFO, and Weighted Average. Each method assumes a particular pattern for how costs flow through inventory, but this is not a guarantee of how the inventory will actually flow. With each method comes a number of pros and cons that a company must consider when implementing its inventory management strategy. Select a company below to learn more about their chosen method. Then discuss the benefits of the chosen method taking into consideration how that particular method impacts the calculation of the inventory account, the cost of goods sold account, and the financial statements for that company.
Target – Uses LIFO
Amazon – Uses FIFO
FedEx – Uses Weighted Average