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 benefits of the use of this technology by the company.
Discussion 2:
• Use the Internet to research the annual report of at least one 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 primary advantages and three primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.
• Provide support for your response.