The notes are an important part of a companys financial statements, giving valuable details that would clutter
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1. How much was the Amazon merchandise inventory at December 31, 2009? At December 31, 2008?
2. Which cost method does Amazon use for inventories? How does Amazon value its inventories? See Note 1.
3. By rearranging the cost-of-goods-sold formula, you can compute purchases, which are not reported in the Amazon statements. How much were Amazon’s inventory purchases during 2009?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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