Merchandise Inventory Methods [WLOs: 1, 2, 3] [CLOs: 1, 2, 3]. 1st Post Due by Day 3. Prior to beginning work on this discussion, read Chapters 5 and 6 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).
Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate.
- Explain the four merchandise inventory methods and provide an example for each.
- How are financial statements affected by using the four different methods?