Please answer all questions below:

Describe the four $(4)$ general inventory costing methods.

Describe the $$perpetual inventory$$ method. Describe the journal entry required when a sale is made using the $$perpetual inventory$$ method.

If a company has four $(4)$ lots of products for sale, purchase $1($earliest$)$ for $$17,$ purchase $2($middle$)$ for $$15,$ purchase $3($middle$)$ for $$12,$ and purchase $4($latest$)$ for $$14,$ which cost would be assumed to be sold first using LIFO costing?

Describe the effect$($s$)$ of inflationary and deflationary cycles on the valuation of merchandise inventory $($Balance Sheet$)$ and cost of goods sold $($Income Statement$).$

When $($inflationary cycle or deflationary cycle$)$ would using the FIFO inventory costing method produce higher inventory account balances than the LIFO method?

If goods are shipped FOB Destination, which party $($seller or purchaser$)$ would be required to pay shipping cost? What if the goods are shipped FOB Shipping point?

Describe the two common ratios used to efficiently manage merchandise inventory.

Describe the accounting term, inventory shrinkage. What are the main causes of inventory shrinkage? What effect does inventory shrinkage have on the Balance Sheet and Income Statement?

Search the internet for recent news items $($within the past year$)$ relating to inventory issues. Describe your findings and explain why it is important to inventory accounting or management. For example, this can be related to technology, bar code, RFID, shipping, supply chain, logistics$,$ or other inventory$-$related topics that are currently trending. Provide the weblink to the source of your information.

Review the most recent annual report $(10-$K$)$ for Walmart $($WMT$)$ and Target $($TGT$).$

Describe two items relating to inventory from the company$$s notes to financial statements$--$

$--$one familiar item that you expected to be in the notes to the financial statement, based on this chapter$$s coverage; and

$--$one unfamiliar item that you did not expect to be in the notes to the financial statements.