Slide2 - Learning Objectives After studying this chapter...

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Unformatted text preview: Learning Objectives After studying this chapter, you should be able to 1. Link inventory valuation to gross profit 2 Use both perpetual and periodic inventory systems 3. Calculate the cost of merchandise acquired 4 Compute income and inventory values using the four principal inventory valuation methods Calculate the impact on net income of LIFO liquidations .01 6. Use the lower-of-cost-or-market method to value inventories ...
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