There are three (3) primary inventory costing methods used by companies: LIFO, FIFO, and Weighted Average. With each method comes a number of pros and cons that a company must consider when implementing its inventory management strategy. Select a company below and discuss the advantages associated with its chosen inventory costing method. Amazon – Uses FIFO
2) According to a recent article from Forbes, retail operations in the United States are experiencing over $60 billion a year in losses primarily due to employee theft. Imagine you have been hired as a loss prevention specialist for a large retail chain and your first assignment is to identify and address the current problems with inventory shrinkage. Select and discuss one of the following internal controls below you would implement to help prevent future employee fraud/theft? Be sure to provide your rationale.
• Option B: Tighter security controls (i.e. video surveillance, random inventory/cash audits, computer system audits, segregation of duties)
3) Leveraging technology is a concept that is not going anywhere anytime soon. How does your organization guard against a breach of your personal information? Provide at least 2 examples and support them with evidence.
4) Describe an action a regulatory agency took against a business in the past 6 months. Post a link to your source. Do you agree or disagree with the action? Explain your reasoning and support it with the materials from this week.