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Chapter 5 1.Differentiate between Merchandizing operations and Service operations. 2.What is meant by COGS. COST OF GOODS SOLD. 3.Explain the Perpetual and Periodic Inventory system.

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Chapter 5 1.Differentiate between Merchandizing operations and Service operations. 2.What is meant by COGS. COST OF GOODS SOLD. 3.Explain the Perpetual and Periodic Inventory system. Chapter 6 1.Dicuss FIFO AND LIFO. 2.Explain adjustments for Lifo Reserve. 3.What is LCM,Inventory Turnover and Current Ratio

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