[SOLVED] accounting question 5
Im trying to study for my Accounting course and I need some help to understand this question.
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. Answer in couple sentences
agree or disagree to post below within 2-3 sentences
2. I would use the perpetual inventory system and take a physical count on Monday to keep track of all products used including ingredients. There are many things unaccounted for when items are purchased. This will also keep inventory low and product fresh. I would use First in First out. It is so important when you have a restaurant that you serve fresh food.
Please number the answers!!!!