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Unformatted text preview: Sales Returns and Allowances • Check book for examples • Dates • Returns • Exchanges Ethics: Internal Controls • Responsible company has these. Chapter 7 LIFO FIFO COGS Equation • Memorize this equation • Based COGS by Ending Inventory COGS Specific ID Lifo • Bucket Perpetual • Always four recordings Periodic Know this Know periods of Rising Costs Chapter 8...
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- Fall '07
- Balance Sheet, Generally Accepted Accounting Principles, FIFO and LIFO accounting, Current asset