QUESTION 1 (20 points) a. Why in your opinion did Julia’s accountant recommend the average cost method? b.Name and explain the main characteristics of the 3 methods of valuation of the inventory c.
QUESTION 1 (20 points) a. Why in your opinion did Julia’s accountant recommend the average cost method?b.Name and explain the main characteristics of the 3 methods of valuation of the inventory c. Explain the consequences each valuation method may have on the valuation of the inventory in the above scenario and the determination of the net income in case of price fluctuation QUESTION 2 Prepare an Income statement of […]