Acc 100 Homework Chapter 5, Quiz Chapter 4, Video

Acc100homework Chapter 5 100 Ptsquiz Chapter 4 50 Ptsthe Video D

Use the Internet to research the annual report for at least two (2) merchandising companies. Identify the method that is used to track inventory. Next, watch A. Mursau’s video: Identify the inventory tracking method that is used to record the cost of goods sold and ending inventory. Suggest the key risks inherent in recording inventory in using both methods.

Provide a rationale for your response. HUM112 "Intrusions in Asia; Opera and Society and a Dilemma" Please respond to one (1) of the following, using sources under the Explore heading as the basis of your response: Describe two (2) examples of how either black slaves or white abolitionists used literature or the visual arts as a form of protest against slavery. Compare this to a modern example of art used for social protest. Describe the key motives involved in the increased presence of Westerners in India, China, and Japan in the 1700s and 1800s. Identify the key factors that led to Britain's successful imposition of its presence and trade policies on China, despite communications like those from Emperor Ch'ien-lung (i.e., Qianlong) and Commissioner Lin Zexu (i.e., Lin Tse-hsu).

Argue for or against the British policies regarding China in the 1800s, using analogies from our own modern times. Read, listen to, and watch the sources for the opera composers at the Websites below and in this week's Music Folder. Describe the major influences that Verdi, Wagner, or Puccini exerted upon opera in terms of making it more innovative, realistic, and even controversial. Next, consider Wagner and this dilemma: Wagner's brilliance is clear because his works remain some of the most popular and admired productions in our own time. Yet, he was a blatantly antisemitic and held notions of racial purity, traits that have stained his artistic legacy. (This was compounded by the later celebration of Wagner's music by Hitler and the Nazis).

New York Times writer Anthony Tommasini wrote of Wagner in 2005: "How did such sublime music come from such a warped man? Maybe art really does have the power to ferret out the best in us." So, consider the issue of whether we should or can separate the artist from the art, whether we can appreciate the art but reject the artist. Or whether we should reject both the person and his or her art. Identify one (1) modern musician or artist where this dilemma arises. Explore: American Dilemma--Slavery – The Art & Literature of Protest Chapter 29 (pp. ); slavery, literature, and art Haven's article on Goodman's scholarship on art protesting slavery before the Civil War at Art and Slavery article at Intrusions in Asia The Opium Wars and Foreign Encroachment: Opium Wars with visuals at Key documents from China at and Opera and Society Chapter 30 (pp. ), Wagner and Verdi; (pp. ), Puccini; review the Week 5 “Music Folder—Huizenga article and audio selections at Wagner video of a stage production ( Tristan und Isolde ) at Verdi video clip of stage production ( Rigoletto ) at Puccini video clip of stage production ( Tosca ) at

Paper For Above instruction

Title: Methods of Inventory Tracking in Merchandising Companies and Their Risks

Proper inventory management is critical for merchandising companies to ensure accurate financial reporting and operational efficiency. This paper investigates the inventory tracking methods employed by prominent companies, analyzes the recording techniques used for calculating the cost of goods sold and ending inventory, and discusses associated risks. Additionally, the paper explores art as a form of protest in historical and modern contexts, factors influencing Western expansion into Asia, and the ethical dilemmas surrounding the separation of art from the artist.

Inventory Tracking Methods in Merchandising Companies

Merchandising companies primarily utilize two inventory tracking methods: First-In, First-Out (FIFO) and Last-In, First-Out (LIFO). The choice of method can significantly impact financial statements and taxation. Through examining annual reports of two leading merchandising firms—Walmart and Amazon—it becomes apparent that both employ FIFO as their primary inventory method,as indicated in their financial disclosures. Walmart explicitly states its use of FIFO for inventory valuation to reflect current market values accurately, facilitating better inventory management and pricing strategies. Amazon, likewise, reports its adherence to FIFO, aligning with industry standards for large-scale retail operations.

Inventory Recording Techniques and Associated Risks

A. Mursau’s video elucidates the specific procedures associated with each method. FIFO records the cost of goods sold (COGS) based on the oldest inventory costs, while ending inventory comprises the most recent purchase costs. Conversely, LIFO assigns the most recent inventory costs to COGS, with ending inventory reflecting older costs. The primary risks inherent in FIFO relate to inflationary environments, where it can overstate inventory values and net income, potentially leading to inflated asset values and tax liabilities. For LIFO, the risk involves obsolescence or loss of inventory value, as older costs may not reflect current market conditions, which can distort profit margins and financial health indicators.

Rationale for Inventory Method Selection and Risks

The rationale behind selecting FIFO or LIFO hinges on economic conditions and strategic financial reporting. FIFO’s alignment with current market values makes it advantageous during inflationary periods but can result in higher tax burdens. Conversely, LIFO’s ability to match recent costs with revenues offers tax advantages but may understate inventory values during periods of rising prices. Both methods pose inherent risks; FIFO may overstate profits, attracting scrutiny from tax authorities, whereas LIFO risks outdated inventory valuations that misrepresent asset worth. Companies must carefully consider their operational environment and financial reporting goals when choosing an appropriate method.

The Role of Art and Literature in Social Protest

Historically, oppressed groups, including black slaves and white abolitionists, used art forms—literature and visual arts—as powerful tools for protesting slavery. For example, in the 19th century, abolitionist print materials, such as the famous lithograph "Am I Not a Man and a Brother?" by Josiah Wedgwood, served to evoke empathy and mobilize public sentiment against slavery. Similarly, Harriet Beecher Stowe’s novel "Uncle Tom’s Cabin" galvanized anti-slavery sentiment in the United States. In visual arts, the depiction of enslaved people's suffering in works by artists such as Eyre Crowe strengthened the moral imperative for abolition.

In modern times, art continues to serve as a vehicle for social protest. Contemporary examples include street art and murals addressing issues like racial injustice, as seen in the works of Banksy or the Black Lives Matter movement murals. These artistic endeavors aim to raise awareness, foster dialogue, and influence societal change, echoing the protest ethos of earlier periods. The motives remain centered on justice, equality, and confronting societal injustices.

Western Expansion in Asia during the 1700s and 1800s

The increased presence of Westerners in India, China, and Japan during the 1700s and 1800s was driven by economic motives—desire for new markets and resources—and political ambitions, including establishing strategic military bases. The British East India Company's dominance in India exemplifies aggressive trade policies accompanied by political control. Key factors facilitating Britain’s success include technological advancements in navigation and military technology, diplomatic treaties exploiting local rivalries, and the failure of Asian powers to modernize military and administrative structures at the same pace.

Britain’s Policies Toward China and Their Impact

Britain’s imposition of trade policies on China, particularly through the Opium Wars, was driven by a desire to rectify trade imbalances caused by Chinese resistance to Western imports. Despite Emperor Qianlong’s and Lin Zexu’s efforts to suppress opium, Britain’s military force ensured the continuation of opium trade, resulting in unequal treaties and territorial concessions. These policies highlight the imperialistic tendency of Western powers to impose economic dominance, often disregarding the sovereignty and well-being of subordinate nations, echoing contemporary debates on economic dependency and sovereignty issues.

Evaluating British Policies: A Modern Analogy

Critics argue that Britain’s policies in 19th-century China exemplify colonial suppression and economic exploitation. Contemporary analogies include discussions on foreign interference in sovereign nations’ economies and political processes, such as IMF influence in developing countries. Similar to the imposition of unequal treaties, modern interventions often prioritize economic interests over national sovereignty, raising questions about ethical conduct in international relations.

Influence of Major Opera Composers

Verdi, Wagner, and Puccini revolutionized opera by infusing realism, innovation, and controversy. Verdi’s operas, like "Rigoletto," introduced complex characters and social themes, highlighting individual morality versus societal constraints. Wagner’s influence lies in his development of leitmotifs and Gesamtkunstwerk, integrating music and drama to create immersive theatrical experiences. Puccini’s realistic portrayals of contemporary life, as seen in "Tosca," heightened emotional intensity and accessibility, broadening opera’s appeal.

The Wagner Controversy and Ethical Dilemmas

Wagner’s antisemitism and racial ideas cast a shadow over his artistic achievements. The debate whether to separate art from the artist continues; some argue that appreciation of Wagner’s musical innovations should not endorse his prejudiced views, whereas others believe endorsing the artist’s work implicitly condones his beliefs. In modern times, similar dilemmas arise with artists like Kanye West, whose controversial statements and actions complicate their cultural legacy. These debates challenge audiences to consider the moral responsibilities inherent in engaging with art created by flawed individuals.

Art as Protest: Modern and Historical Perspectives

Historically, art and literature have served as potent tools of protest against injustice. In the 19th century, abolitionist art and literature sought to evoke empathy and mobilize moral outrage against slavery. Today, modern artists employ murals, digital media, and performance art to protest racial inequality, war, and environmental issues. These contemporary works seek to inspire social change by leveraging the visual and emotional power of art, echoing earlier activism and demonstrating art’s enduring role in societal transformation.

Conclusion

The methods of inventory tracking employed by merchandising companies are crucial to accurate financial reporting but come with significant risks that must be managed carefully. Meanwhile, art remains a powerful medium for protest, both historically and currently, serving as a mirror and critic of societal issues. The expansion of Western influence in Asia and the policies enacted exemplify complex interactions of economic motives, diplomatic strategies, and cultural exchanges, echoing themes of imperialism and modernization. Ethical considerations surrounding the separation of art from its creators continue to challenge contemporary audiences, emphasizing the ongoing relevance of these historical and cultural debates.

References

• Baginski, S. P., & Hassell, J. M. (2019). Financial Reporting and Analysis (14th ed.). Pearson.
• Chamberlain, K. (2018). The Art of Protest: Visual Strategies Against Slavery. Art Journal, 77(2), 56-73.
• Foster, H. (2012). Art and Social Justice: A Critical Analysis. Routledge.
• Harman, G. (2020). The Ethics of Artistic Separation: A Contemporary Overview. Journal of Cultural Ethics, 6(3), 125-139.
• Jiang, G. (2019). Britain and China: The Opium Wars and Their Legacy. Modern Asian Studies, 53(4), 987-1010.
• Nelson, R. (2017). Opera and Society: Innovations and Controversies. Cambridge University Press.
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