the relating garn Best Buy Co. Inc. (NYSE: BY. Amazon.com.trc(NASONO AM20, and Target Corporation (NYSE. TT each use a desert Inventory couding method. Best they were weighted average cout, Amazonas FE and Target uses LIFO Below is a hypothetical example the highlights the tal forences in contatements and balance sheets that could arise robe of the ta of a different story outing method kasume that all three retterspel popular in the retails for $22. To comowe the most of very costre method, we will assume that all three rutiers have the following inventory and les der for the same period o koupeletion simple at represents a milioni Beginning inventory: June 1000 Purchases 2 s115.00 Ending into Instructions InitialPost In a post a thecon Board discuss the following question 1. What is the impact for each company on the income Statement and Balance Sheet? What specific accounts are affected in each statement b. Think Cost of Goods Sold. Not Income inventory costs, ending inventory balances 2. What affect door foting prices have on the Financial Statements? 3. Which company will produce the higher ret income in antonment of rings Why? 4. Yunay need to calculate the following in order to generate you answers Number of units sold Number of unit rumaning in ending merchandise mentory Cost of good sold, cost of ending inventory, and gross margin the relating garn Best Buy Co. Inc. (NYSE: BY. Amazon.com.trc(NASONO AM20, and Target Corporation (NYSE. TT each use a desert Inventory couding method. Best they were weighted average cout, Amazonas FE and Target uses LIFO Below is a hypothetical example the highlights the tal forences in contatements and balance sheets that could arise robe of the ta of a different story outing method kasume that all three retterspel popular in the retails for $22. To comowe the most of very costre method, we will assume that all three rutiers have the following inventory and les der for the same period o koupeletion simple at represents a milioni Beginning inventory: June 1000 Purchases 2 s115.00 Ending into Instructions InitialPost In a post a thecon Board discuss the following question 1. What is the impact for each company on the income Statement and Balance Sheet? What specific accounts are affected in each statement b. Think Cost of Goods Sold. Not Income inventory costs, ending inventory balances 2. What affect door foting prices have on the Financial Statements? 3. Which company will produce the higher ret income in antonment of rings Why? 4. Yunay need to calculate the following in order to generate you answers Number of units sold Number of unit rumaning in ending merchandise mentory Cost of good sold, cost of ending inventory, and gross margin
