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BUS 2101

BUS 2101. The Big Picture…. Merchandising Operations. Inventory systems Purchases of merchandise Sales of merchandise Income statement for merchandisers. Inventory systems. Purchase of merchandise. Use Merchandise Inventory account for only inventory, not supplies, equipment, etc.

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BUS 2101

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  1. BUS 2101 The Big Picture…

  2. Merchandising Operations • Inventory systems • Purchases of merchandise • Sales of merchandise • Income statement for merchandisers

  3. Inventory systems

  4. Purchase of merchandise Use Merchandise Inventory account for only inventory, not supplies, equipment, etc.

  5. Return of merchandise purchases

  6. Freight on merchandise purchased Freight for merchandise purchased is part of the cost of an asset, Merchandise Inventory

  7. Freight on merchandise sold Freight for merchandise sold is an expense.

  8. Purchase discounts Discount for 2/10, n/60. Reduces cost of inventory.

  9. Sales of merchandise

  10. Returns of merchandise sold Negative revenue

  11. Sales discounts Sales Discounts is a negative revenue account.

  12. Income Statement Merchandiser

  13. Income Statement Merchandiser What conclusions can you make about Aggie Anvils?

  14. BUS 2101 The Big Picture…

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