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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Compare the flow of inventory costs between merchandisers and manufacturers.

To determine

Concept introduction:

Merchandiser: A merchandiser is a businessman who purchases and sells the goods or merchandise and earns profit.

Manufacturer: A Manufacture is a businessman who produces and sells the goods or merchandise and earns profit.

To indicate:

The comparison of flow of inventories for the Merchandiser and the Manufacturer.

Explanation

A merchandiser is a businessman who purchases and sells the goods or merchandise and earns profit. A Manufacture is a businessman who produces and sells the goods or merchandise and earns profit.

The type of inventories used by Merchandiser and the Manufacturer are as follows:

  • Merchandiser: A merchandiser has only the merchandises in its inventory.
  • Manufacturer: A Manufacture has inventories of Raw Material, work in process and finished goods inventories...

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