Chat with us, powered by LiveChat Assume you own a restaurant, What inventory costing - STUDENT SOLUTION USA

1. Assume you own a restaurant. What inventory costing method would you prefer, and why? Also, include a discussion as to whether the costing method you would use for your accounting records would follow the actual flow of your inventory.
2. Think about the different types of financial statements you learned about in this unit (the income statement, statement of retained earnings, balance sheets, and statements of cash flow). If you were an investor, would you place more emphasis on any one particular financial statement? Why, or why not?
Book used for questions 1 and 2 is Miller-Nobles, T., Mattison, B., & Matsumura,
E. M. (2016). Horngren’s accounting (11th ed.). Boston, MA: Pearson.

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