Chapter 4 · Financial
Accounting for Merchandising Operations
A store buys goods, sells them for more, and records every sale twice — once at the price, once at what the goods cost.
Two entries per sale. Revenue at the selling price, cost of goods sold at cost.
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Lab
Every instrument, on its own screen.
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Practice
Classify situations and journalize entries, with a reason for every miss.
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Recall
Produce the answer. Box 1–5, due in 1, 2, 4, 8, 16 days.
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Reference
Every term, formula, and entry pattern, in one dense page.
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