Learning Outcomes: Upon successful completion of this course, the student should be able to: > Determine the ending inventory and the cost of goods sold using specific identification, average cost, FIFO and LIFCO tinguish between capital expenditures and revenue expenditures Describe the costs and the basic accounting activities relating to payroll Contrast the features of common stock with those of preferred stock Account for cash dividends and stock dividends > Identify how cash transactions are classified in a statement of cash flows Put a company's net income into perspective by relating it to sales, assets, and stockholders' equity Learning Outcomes: Upon successful completion of this course, the student should be able to: > Determine the ending inventory and the cost of goods sold using specific identification, average cost, FIFO and LIFCO tinguish between capital expenditures and revenue expenditures Describe the costs and the basic accounting activities relating to payroll Contrast the features of common stock with those of preferred stock Account for cash dividends and stock dividends > Identify how cash transactions are classified in a statement of cash flows Put a company's net income into perspective by relating it to sales, assets, and stockholders' equity