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Author Question: Describe the operating cycle for a merchandising firm. What will be an ideal ... (Read 47 times)

JMatthes

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on: Jul 5, 2018
Describe the operating cycle for a merchandising firm.
 
  What will be an ideal response?

Question 2

FIFO reports higher gross profit and net income than the LIFO method when
 a. prices are increasing
  b. prices are decreasing
  c. prices remain stable
  d. prices are reduced by 50


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blfontai

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A merchandising company starts with cash, buys inventory, sells that inventory to customers (often creating accounts receivable), and then collects the cash from the customers.

Answer to Question 2

a


JMatthes

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Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

shewald78

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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