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
• Resource: Fundamental Accounting Principles, pp. 247–249
• Complete Quick Study question 6-1 on p. 247 and Exercises 6-1 on pp. 248.
Quick Study Question 6-1 (QS 6-1) SOLUTION
Exercises 6-1 (E6-1) SOLUTION
2. Assignment: Estimating Inventory and Preparing Multiple-Step and Single-Step Income Statements
• Resources: Fundamental Accounting Principles, pp. 251
• Complete Problems 5-4A on p. 212, 6-1A on p. 251. (Beware, these are very detailed problems and may take you a while to complete. Make sure you give yourself enough time!)
Problems 5-4A (P5-4A) SOLUTION
Problems 6-1A (P6-1A) SOLUTION
