ACC 225
Axia College of University of Phoenix (UoP)
Financial Accounting
Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)
ACC 225 Week 6 Solution
1. CheckPoint: Computing Inventory Balances and Lower of Cost or Market (Post in the Individual Forum – Due Day 2)
• Re-read Chapters 5 and 6
• Review Demonstration problem and solution. Try to complete sections on your own before reviewing solution.
• Resource: Fundamental Accounting Principles, pp. 247–249
• Complete Quick Study question 6-1 on p. 247 and Exercise 6-3 on p. 247 & Problem 6-3A on p. 252.
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2. Assignment: Estimating Inventory and Preparing Multiple-Step and Single-Step Income Statements (Post in the Individual Forum – Due Day 6)
• Resources: Fundamental Accounting Principles, pp. 251 & 256
• Complete Problems 5-4A on p. 212, 6-1B on p. 254, & 6-6A on p. 253 and 6-7A on p. 254.
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