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Unit VI Reflection Paper

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Q Unit VI Reflection Paper For this reflection paper, you will need to read the article below. Wink, G. B., & Corradino, L. J. (2010). Income inflation: Absorption costing vs. variable. Journal of the International Academy for Case Studies, 16(1), 49–54. https://search-proquest-com.libraryresources.waldorf.edu/scholarly-journals/income-inflation-absorption-costing-vs-variable/docview/845495937/se-2?accountid=40957 After reading the article, use the Institute of Management Accountants Code of Ethics found on page 12 of your textbook to incorporate the following components. Summarize ethical issues presented through Wink and Corradino’s article. Establish what actions you would take if placed in Robert’s situation. Deduce the potential outcome from Robert’s meeting. Your reflection must be at least two pages in length. No references are required. If outside sources are used, please adhere to APA Style when creating citations and references for this assignment. APA formatting, however, is not necessary.

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Companies frequently utilize absorption costing and variable costing as common accounting techniques to estimate the worth of their inventory and conduct financial analyses. It's critical to comprehend these several accounting procedures if you wish to evaluate the worth of a company's inventory. Companies and organizations use absorption costing as a method to calculate the cost of goods sold. Companies frequently include the cost of materials and labor, as well as fixed and variable manufacturing expenses, when determining their COGS through absorption costing. Companies and organizations that calculate their cost of goods sold using variable costing do so by removing any fixed, direct costs from their calculations.