The Week 4 Forum consists of two separate questions. You will answer one of the two questions. The chosen question needs to be answered with an initial post of at least 250 words ..
I’m trying to study for my Accounting course and I need some help to understand this question.
The Week 4 Forum consists of two separate questions. You will answer one of the two questions. The chosen question needs to be answered with an initial post of at least 250 words .
Pick only one question:
(1st question) Describe a classified income statement. Be sure to address the classified income statement’s four sections and the important financial relationships found within the statement.
(2nd question) The United States has a capitalistic economy. What is capitalism? Explain how the different inventory valuation methods affect a company’s financial statements. Can the inventory valuation method chosen affect a company’s ability to compete in a capitalistic economy? Please explain.
Instructions: Your initial response should have extensive words (at least 250 words). Please use reference in APA format.
This week we will explore Chapter(s) 7 and 8 of the textbook. Chapter 7 introduces inventories and the classified income statement. It further compares service and merchandising companies. Chapter 8 discusses methods of measurement for inventories and how the cost of goods sold and net income are affected by the different methods.