Instructions:

• In your own words describe the three different inventory methods: LIFO, FIFO & Weighted Average. Why would a company choose one method over the other to value their inventories?
• In your own words describe the differences between a perpetual inventory system and a periodic inventory system. Which of these systems maintains tighter controls over inventories?
• Discuss anything that you found particularly interesting, or particularly difficult to understand. This is important as this will help me to help you.
• After you have replied, please respond to at least two of your classmates postings and further discuss this week’s discussion topic with each other.
• Make sure your responses are meaningful and discuss what your classmates have shared and your thoughts on it. Avoid posting short responses like “I agree”.
• If there is anything that your classmates are having trouble understanding and you can help, please do!

Evaluation:

Your introduction will be graded using the attached rubric.