In: Accounting
Assume you are opening a furniture store. To finance
the business, you need a loan, and your banker requires a set of
forecasted financial statements. Assume you are preparing the
statements and must make some decisions about how to do the
accounting for the business.
Requirements: (Part A: 50 points maximum; part B: 50
points maximum)
A. 1. Critically analyze the choices of inventory
systems and select one for the your furniture store. discuss the
reasons for your selection.
2. Inventory costs are
rising. Analyze inventory costing methods with the purpose of
maximizing net income.