... studying this this Describe andchapter, illustrateyou the financial statements of should chapter, you should a merchandising business be able to: be able to: Describe the accounting for the sale of ... the accounting for the sale of merchandise Describe the accounting for the purchase of merchandise Objectives Objectives Describe the accounting for transportation costs, sales taxes, and trade ... Concluded $ 600 (2,440) Periodic Periodic vs vs Perpetual Perpetual Methods Methods of of Accounting Accounting Periodic Method • A method of determining the cost of merchandise sold and the...