Section outline

  • Lesson Objectives:

    1.Measuring Net Income:

    2. Sales revenue; sales return and allowance; sales discount; Cost of goods sold; FOB shipping point, FOB destination,

    3. Recording transactions under perpetual and periodic inventory system.

    4. Preparation of income statement of merchandising organization– Multiple Step Income Statement, Single Step Income Statement


    Course Content:

    1.Measuring Net Income:

    2. Sales revenue; sales return and allowance; sales discount; Cost of goods sold; FOB shipping point, FOB destination,

    3. Recording transactions under perpetual and periodic inventory system.

    4. Preparation of income statement of merchandising organization– Multiple Step Income Statement, Single Step Income Statement.


    Course Outcome:

    Able to describe Merchandising operations and inventory systems.

    Able to describe Merchandising operations and inventory systems.

    Able to describe Merchandising operations and inventory systems.