Answer the following question(s) completely and to the best of your ability.

• Why is an accurate value of ending inventory and cost of goods sold important?
• Have you ever participated in an inventory count for a retail business or observed one been done? If so, please describe the process.
• or talk about the cost of insuring inventory.
• or talk about theft and how to determine that it has occurred using gross profit method.
• or ask me for another topic you are interest you.