Outline o Merchandising activities Operating cycle of merchandising companles o Merchandising cost accounts ◆ Inventory systems 4 Merchandise purchases Sales transactions Adjusting and closing entries Task Team of FUNDAMEnTAL ACCOUNTING Business School. Sun Yat sen University2 Outline t Merchandising activities t Operating cycle of merchandising companies t Merchandising cost accounts t Inventory systems t Merchandise purchases t Sales transactions t Adjusting and closing entries