Unformatted text preview: would have to open to purchase selective inventory, payroll, staffing, space, etc. . Even though the balance sheet and inventory play a big role in merchandising companies, the balance would be used to categorize the merchandise that is in inventory and the Income statement is used to categorize inventory like gross profits, how much the cost of goods would be…etc… Determine whether or not the measurement of net income for a merchandising company conceptually is the same for a service company. I believe that the measurement of net income for any merchandising company would not be the same for a service company. I say this because the gross profit is designed in to the Income Statement of a merchandising company where the expenses can be taken out the sow up in the net income balance…...
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This note was uploaded on 01/16/2012 for the course ACC 557 037VA016-1 taught by Professor Kimberlydillman during the Spring '11 term at Strayer.
- Spring '11