About 50 companies have signed on so far said

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: without additional penalties. About 50 companies have signed on so far, said Delaware Secretary of State -Inventory for different types of firms Jeffrey Bullock. Today’s Topics (Ch 6) GETTING STARTED -Tracking inventory and related costs Skeptics say it is unlikely the state is ready to truly back off a program that has brought in $1.24 --2 methods billion over the past three years alone, its third largest revenue source behind income and franchise taxes over that time. -Costs included in inventory PURCHASING INVENTORY -How do firms account for freight, "Unclaimed property is crack for the state of Delaware," said Chris Hopkins, a partner at accounting firm Crowe Horwath LLP. discounts and returns? Unclaimed property includes un-cashed payroll checks, unused gift cards or certificates, life -What if the value of inventory changes? insurance benefits, dormant bank accounts, and stock dividends, among other goods that CARRYING INVENTORY -What if we miscount ending inventory? 2/1/13 8:53 AM SELLING INVENTORY ANALYZING INVENTORY -What costs do firms a...
View Full Document

This document was uploaded on 02/17/2014 for the course ACCTG 215 at University of Washington.

Ask a homework question - tutors are online