Physical inventory and purposes; three phases: planning and preparation, execution, and analysis of results; methods of conducting physical inventory such as bar-code readers, count cards, and count sheets.

Explanation of accounting for customer returns, sales and return allowances, purchase allowances, cash refunds and store credits.

Accounting guide about consigned goods; definitions of consignment, consignee, consignor; examples of consignment journal entries; consignment benefits, risks and controls.