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Special Issues for MerchantsThe Merchandising Operation - SalesSalesSales Returns and AllowancesTrade DiscountsCredit CardsCash DiscountsPurchase Considerations for Merchandising BusinessMerchandise AcquisitionPeriodic Inventory SystemPurchase Returns and AllowancesCash DiscountGross Recording of Purchases/DiscountsNet Recording of Purchases/Discounts LostComparison of Gross vs. NetFreight ChargesThe Calculation of Net PurchasesCost of Goods SoldDetailed Income Statement for Merchandise OperationClosing EntriesAlternative Inventory SystemIncome Statement EnhancementsAnalysis of a Detailed Income StatementThe Control StructureInternal Control in the Merchandising EnvironmentInternal Control and the Purchasing CycleGeneralizing About ControlCash and Highly-Liquid InvestmentsCash CompositionCash EquivalentsCash ManagementStrategies to Enhance Cash FlowsBank ReconciliationComprehensive Illustration of Bank ReconciliationProof of CashPetty CashReplenishment of Petty CashCash Short and OverIncreasing the Base FundTrading SecuritiesAn IllustrationRationale for Fair Value AccountingAlternative: A Valuation Adjustments AccountDividend and InterestDerivativesAccounts ReceivableThe Costs and Benefits of Selling on CreditCredit SalesCredit CardsAccounting for Uncollectible ReceivablesDirect Write-off MethodAlternative Approaches for UncollectiblesDetermining the Allowance AccountWriting off Uncollectible AccountsCollection of an Account Previously Written offMatching AchievedMonitoring and Managing Accounts ReceivableNotes ReceivableAccounting for Notes ReceivableA Dishonored NoteNotes and Adjusting EntriesInventoryThe Components of InventoryDetermining Which Goods to Include in InventoryInventory Costing MethodsDetermining the Cost of Ending InventoryCosting MethodsFirst-in, First-out CalculationsLast-in, First-out CalculationsWeighted-Average CalculationsPreliminary Recap and ComparisonDetailed IllustrationsFIFOLIFOWeighted-AverageComparing Inventory MethodsSpecific IdentificationPerpetual Inventory SystemsPerpetual FIFOJournal EntriesPerpetual LIFOMoving AverageLower of Cost or Market AdjustmentsMeasuring Market ValueApplication of the Lower-of-Cost-or-Market RuleInventory Estimation TechniquesGross Profit MethodRetail MethodInventory ManagementInventory Errors
 
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