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Chapter 7

ARBUS102 Chapter Notes - Chapter 7: Weighted Arithmetic Mean, Income Statement, Financial Statement


Department
Arts and Business
Course Code
ARBUS102
Professor
Peter Blake
Chapter
7

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o !"#!!$
o% &!#!!$'

o( )#!*!+
!++, 
--./!*',#! 
-0!/1#!
-
-Inventory !/!
!!
-Merchandise inventory+!#!2+
0!!
-(+3!!
o,Raw material inventory ++/
o%,Work in process inventory /
!!
o(,Finished goods inventory *', 
-Consignment inventory+/$0
o400* /!
0.0"!
o/0+

-Goods in transit+/
o/0+
5
-0/!0+
/!
-*!#!
 
o4+!
'
* 
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- Goods available for sale:!/!
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'
- Cost of Goods Sold (CGS)75*5 8!* &
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
-(/

- 1. Specic Idencaon72
20
o&',02(?+
0@=@>A+*@=8@>A6@?A 0!
/,-*@A 0!/
/,
o!220!!
'!#!
-4!22

o-%/B03
+/!!.
/!B0
- 2. First-in, rst out (FIFO)7!2!*2 
2*2! 
o&',+@=@A!(
A+/@;A
@>A!?/&/
,
- 3,Weighted Average: !!0
!//
o-C*@=8@A8@>A 
÷
(6@<=D%
+!@?=,-
&
/,
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