Chapter Learning Summaries

Chapter Learning Summaries - C h 7 Learning Summa ry...

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Ch 7 Learning Summary    Identify major cla the financial statem Raw Materials, Wo materials on hand b raw materials on w specifically to this  inventory. Finally, t the fiscal period as    Distinguish betwee continuous record o and sales (issues) o system, companies  Purchases account, the period by subtra ending inventory by    Identify the effects inventory : (1) In th miscalculation of th sold and net incom inventory: (1) In th miscalculation of th misstated.    Understand the ite and are recorded in direct costs of acqu time of sale. Period These changes, suc part of inventory co    Describe and com items in the invento (2)  First-in, first-ou inventory remainin the cost of the last g
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   Explain the signifi internal reporting p LIFO reserve. The  either the LIFO res    Understand the ef sales revenues repo the current period.     Explain the dollar measure increases a
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This note was uploaded on 09/07/2011 for the course BMGT 310 taught by Professor Mckinney during the Fall '08 term at Maryland.

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Chapter Learning Summaries - C h 7 Learning Summa ry...

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