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Topic 5a-Accounting For Merchandising
Topic 5a-Accounting For Merchandising
Merchandising
Operations
1. Describe merchandising
operations and the two types of
merchandise inventory systems
2. Account for the purchase of
merchandise inventory using a
perpetual inventory system
3. Account for the sale of
merchandise inventory using a
perpetual inventory system
Describe merchandising
operations and the two types
of merchandise inventory
systems
Gross profit is a
measure of a
business’s
success.
5-42
Closing the Accounts of a Merchandiser
Prepare a merchandiser’s
financial statements
5-61
Adjusting and
Closing Entries
5-62
Preparing
Financial
Statements
5-63
Comparing
Perpetual &
Periodic
Journal
Entries