{"id":3670,"date":"2020-10-21T21:21:34","date_gmt":"2020-10-21T21:21:34","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-financialaccounting\/?post_type=chapter&p=3670"},"modified":"2022-03-28T16:40:47","modified_gmt":"2022-03-28T16:40:47","slug":"introduction-to-financial-statement-presentation-2","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-clinton-financialaccounting\/chapter\/introduction-to-financial-statement-presentation-2\/","title":{"raw":"Introduction to Financial Statement Presentation","rendered":"Introduction to Financial Statement Presentation"},"content":{"raw":"

What you\u2019ll learn to do: Demonstrate proper financial statement presentation of inventory and cost of goods sold<\/h2>\r\n\"An<\/a>\r\n\r\nSo far, you\u2019ve discovered that the single seemingly simple item called Inventory on the balance sheet can be quite complicated. In this section, you\u2019ll learn how to present COGS on a multi-step income statement that shows the sub-total of gross profit (also called gross margin) and operating income, and how inventory errors can affect the bottom line, as well as the required disclosures related to inventory.","rendered":"

What you\u2019ll learn to do: Demonstrate proper financial statement presentation of inventory and cost of goods sold<\/h2>\n

\"An<\/a><\/p>\n

So far, you\u2019ve discovered that the single seemingly simple item called Inventory on the balance sheet can be quite complicated. In this section, you\u2019ll learn how to present COGS on a multi-step income statement that shows the sub-total of gross profit (also called gross margin) and operating income, and how inventory errors can affect the bottom line, as well as the required disclosures related to inventory.<\/p>\n\n\t\t\t

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Candela Citations<\/h3>\n\t\t\t\t\t
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