Discussion 1
- Watch BNET Video’s video titled “Modernizing Inventory Management” on modernizing inventories as used by Cole Hardware:
- https://www.youtube.com/watch?v=1d0O8MAMyAM&feature=youtu.be
- Explain how Cole Hardware used technology to manage inventory and identify at least two (2) benefits of the use of this technology by the company.
Discussion 2:
- Use the Internet to research the annual report of at least one (1) merchandising company. Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.
- Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.
- Provide support for your response.
