Question: I need help with this qustion! It is chapter 6 Reporting and Analyzing Inventory Inventory management is an essential function of any merchandising business. These

I need help with this qustion! It is chapter 6 Reporting and Analyzing Inventory

Inventory management is an essential function of any merchandising business. These functions are not just limited to buying and selling goods, but also include keeping track of cost and managing inventory levels:

What is the actual purchase price of goods?
What is the difference between gross sales and net sales?
With constant price changes in the economy, how does management assign a value to its inventory?

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