These questions refer to the corporation Target (As in the red bullseye sporting department store)

1. Provide an example of inventory from the company Target that would use the Periodic inventory system. Describe 2 characteristics of the actual inventory and explain why the Periodic Inventory System would be best for this company.

1. When prices are declining, explain how Ending Inventory amounts and Net Income for the company Target would be affected (higher or lower) for the FIFO and LIFO cost methods