Chapter 1 - Discussion Questions Watch the video lectures and read the textbook before answering/commenting You can provide links to Youtube videos and/or news articles to support your answers/comments 1. What is managerial accounting, how is it different than financial accounting, and what is the role of ethics in managerial accounting? 2. What are the differences between product cost and period cost? How do they affect the financial statements differently? 3. What is the significance of the following measures and how do you calculate them: a average product cost. b. COGS. c. Ending Inventory Leaders: Jalen Barnett, Jared Gallagher, Austin Helmer, and Hannah Lyon Leaders have to post their initial response/answers as soon as possible but not later than Wednesday 1/19. Do not limit yourselves to the discussion questions, especially if you feel that they were a answered/discussed. Share videos, and bring discussion points from the eBook, readings, Wall Street Journal, and/or your own experiences as it pertains to the topic. Leaders are expected to moderate the d and follow-up on others (at least 5 other students) to receive full credit (10 point All other students and leaders have to post their comments and follow-ups by Sunday 1/23 (5 points)