Question: 1. What are the four different methods used to assign costs to ending inventory and cost of goods sold? 2. How are the methods different?

1. What are the four different methods used to assign costs to ending inventory and cost of goods sold?

2. How are the methods different?

3. What impact does each method have on the calculation of net income and ending inventory?

4. Do you think that one method is superior to the others? Please explain your position?

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Remember cost of products sold is that the cost to the vendor of the products sold to customers Cost of products Sold is an EXPENSE item although we dont see the word Expense this of course is an expe... View full answer

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