Chapter 6
ati显卡官网Inventories and Cost of Sales
Student Learning Objectives and Related Assignment Materials* |
Student Learning Objectives
| Discussion
Questions | 酸菜煮鱼Quick Studies |
Exercis
| Problems
(A &B t)** | Beyond the Numbers |
Conceptual objectives: |
C1. Identify the items making up merchandi inventory. | 花话 12 | 6-1, 6-17,
6-23 | 6-1 | | 6-8 |
C2. Identify the costs of merchandi inventory. | 1, 2, 3 鼻炎因果是蛇 | 6-2, 6-23 | 6-2 | | 6-1, 6-8 |
好吃的海鲜Analytical objectives: |
A1. Analyze the effects of
inventory methods for both financial and tax reporting. | 4, 5, 6, 7, 14, 15, 16, 17 | 6-18 | 6-4, 6-6,
6-11 | 6-8 | 6-3, 6-4, 6-6 |
A2. Analyze the effects of
inventory errors on current and future financial statements. | 8, 9 | 6-20 | 6-12 | 6-6 | 调度员岗位职责 |
A3. Asss inventory management using both inventory turnover and days' sales in inventory. | | 6-21 | 6-11, 6-13 | SP | 6-1, 6-2, 6-5, 6-7, 6-9 |
Procedural objectives: |
P1. Compute inventory in a perpetual system using the methods of specific identification, FIFO, LIFO, and weighted average. | 1 | 6-3, 6-4, 6-5, 6-6, 6-10,
6-11, 6-12, 6-13 | 6-3, 6-7, 6-8
| 6-1, 6-3 | 6-6 |
英语感谢信作文P2. Compute the lower of cost or market amount of inventory. | 10, 11 | 6-19, 6-23 | 脑缺氧怎么办6-10, 6-18 | 6-5, SP | |
P3. Compute inventory in a periodic system using the methods of specific identification, FIFO, LIFO, and weighted average. (Appendix 6A) | 1, 13 | 6-7, 6-8,
6-9, 6-14,
6-15, 6-16, 6-17 | 6-5, 6-9,
6-14, 6-15 | 6-2, 6-4,
6-7, 6-8, ES | |
P4. Apply both the retail inventory and gross profit methods to estimate inventory.
(Appendix 6B) | 13 | 6-22 | 6-16, 6-17 | 6-9, 6-10 | |
Notes appear on next page. |
| | | | | |
*See additional information on next page that pertains to the quick studies, exercis and problems.
SP refers to the Serial Problem
GL refers to the General Ledger problems
ES refers to Excel Simulations
Additional Information on Related Assignment Material
Connect
Available on the instructor’s cour-specific website) repeats all numerical Quick Studies, all Exercis and Problems Set A. Connect also provides algorithmic versions for Quick Study, Exercis and Problems. It allows instructors to monitor, promote, and asss student learning. It can be ud in practice, homework, or exam mode.
Connect Insight
The first and only analytics tool of its kind, Connect Insight is a ries of visual data displays that are each framed by an intuitive question and provide at-a-glance information regarding how an instructor’s class is performing. Connect Insight is available through Connect titles.
The Serial Problem (SP) for Success Systems continues in this chapter.
General Ledger
Assignable within Connect, General Ledger (GL) problems offer students the ability to e how transactions post from the general journal all the way through the financial statements. Critical thinking and analysis components are added to each GL problem to ensure understanding of the entire process. GL problems are auto-graded and provide instant feedback to the student.
Excel Simulations
Assignable within Connect, Excel Simulations allow students to practice their Excel skills—
such as basic formulas and formatting—within the context of accounting. The questions feature animated, narrated Help and Show Me tutorials (when enabled). Excel Simulations are auto-graded and provide instant feedback to the student.
Synopsis of Chapter Revisions
NEW opener—Homegrown Sustainable Sandwich and entrepreneurial assignment.
Simplified “specific identification” calculations in Exhibit 6.4.
New image for each inventory method to show cost flows of goods at each sale date.
Added colored arrow lines to weighted average Exhibit 6.7 to show cost flows from purcha to sale.
Updated box on purchasing kickbacks using KPMG data.
Lower-of-cost-or-market ction simplified.
Enhanced layout to explain effects of inventory errors across years.
Sustainability ction explains importance of perpetual inventory for organic producers.
Updated inventory turnover and days’ sales in inventory analysis using Toys ‘R’ Us.
Appendix 5A: New images show cost flow of goods at each period end for each inventory measurement method.
Appendix 5B: Revid to be consistent with new revenue recognition rules.
