ADMN 1021H Lecture 12: ADMN-1021 Lecture12- Exam Review
29 Nov 2016
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20 t(cid:396)ue o(cid:396) false (cid:395)"s (cid:894)2(cid:1009)%(cid:895) (cid:1008)(cid:1009) multiple (cid:272)hoi(cid:272)e (cid:395)"s (cid:894)2(cid:1009)%(cid:895) Questions are very similar to labs and work from seminars. Review slides provided by jaime are what is on exam. Know how to do journal entries in regards to periodic and perpetual, know their differences, know the features when decide to use each system. Text book pg 250 compares the different systems and how they look in journal entries. Freight in (fob shipping point) paying to bring something to your warehouse if responsible for cost (is a part of cost of goods sold) Freight out selling the units, going to the (cid:271)uye(cid:396)"s warehouse but its fob destination. Practice fifo and average cost (be able to do chart) no more than 6 transactions going to be given need to identify each. Average cost in perpetual is finding the average costs in chart by chronological order and find a new average cost every transaction.
