LO6-01: Describe the operating cycle of a merchandising company.
LO6-02: Understand the components of a merchandising company's income statement.
LO6-03: Account for purchases and sales of merchandise in a perpetua l inventory system.
LO6-04: Explain how a periodic inventory system operates.
LO6-05: Discuss the factors to be considered in selecting an inventory system.
LO6-06: Account for additional merchandising transactions related to purchases and sales.
LO6-07: Define special journals and explain their usefulness.
LO6-08: Measure the performance of a merchandising business.