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LO 6.1: Distinguish between service and merchandising operations
LO 6.2: Explain the differences between periodic and perpetual inventory systems
LO 6.3: Analyze purchase transactions under a perpetual inventory system
LO 6.4: Analyze sales transactions under a perpetual inventory system
LO 6.5: Analyze sales of bundled items under a perpetual inventory system
LO 6.6: Prepare and analyze a merchandiser's multistep income statement
LO 6.S1: Record purchase and sales discounts under a perpetual inventory system (Gross Method only)
LO 6.S2: Record inventory transactions in a periodic system
