Looking to the Future

$[$In response to the owner's request for additional information and support for future

growth, discuss accounting considerations associated with the acquisition of additional long

term$/$fixed assets, and the addition of merchandise inventory. How will the company account for

the costs of long$-$term assets? How will the method of depreciation be determined? $($Expand on $2$

different methods of depreciation to demonstrate ideal application$).$ How does accounting change

with the addition of merchandise inventory? How will it be determined which inventory costing

method to apply? $($Discuss how the FIFO, LIFO, and Average methods differ and provide

examples of the types of merchandising scenarios that would be ideally applicable in each case.$)]$