The difference between the physical flow of inventory and the cost flow assumption

After reading Greenberg and Wilners article, Teaching Inventory Accounting: A Simple Learning Strategy to Achieve Student Understanding (2011), found at: Greenberg, R. K. & Wilner, N.A. (2011). . Issues in Accounting Education, 26(4): 835-844 Discuss why you think the authors statement below causes confusion among students in regard to understanding the differences among FIFO, LIFO, and average cost: Students have a difficult time understanding the difference between the physical flow of inventory and the cost flow assumption. Specifically, they do not understand that the actual physical flow of goods relates to a process undertaken by a manufacturer or merchandiser, while the cost flow assumption relates to accounting reporting conventions. The physical flow does not have to be the same as the cost flow assumption (p.836). Do you want your assignment written by the best essay experts? Then look no further. Our team of experienced writers are on standby to deliver to you a quality written paper as per your specified instructions. Order Now, and enjoy an amazing discount!!

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