Case Study (Exam Prep) - Kenaston Convinience Store

Cost of goods sold is calculated by adding the

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Unformatted text preview: ng the year and then subtracting ending inventory. Family members often take store items for their own use. Required: Prepare a report for your manager, the vice-president of acquisitions, outlining your evaluation of the KCS’s income statements. In your report, identify and discuss whether the statements are representative of KCS’s activity and whether they give a good indication of how the store would perform if CML purchased and operated it. Be sure to identify and discuss any adjustments you would recommend to make the financial statements more useful. Note: this is a directed case as students are provided with a list of issues (points 1 - 7, although some points may have more than one issue to address.) Students should follow the Case Analysis - Basic Structure when analyzing this case. Remember: the key stakeholders' objectives and management's objectives will assist students in solving this case as it will provide students with a better understanding of how the information provided by management may have been affected by the self-interest of the preparers....
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This document was uploaded on 02/28/2014 for the course ACC 110 at Ryerson.

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