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9-1 CHAPTER 9 INVENTORIES: SPECIAL VALUATION PROBLEMS CONTENT ANALYSIS OF EXERCISES AND PROBLEMSNumberContentTime Range (minutes)E9-1 Lower of Cost or Market. (Easy) Determination of inventory value. 5-10 E9-2 Lower of Cost or Market. (Easy) Inventory value determination for five cases. Inventory values under IFRS. 5-15 E9-3 Lower of Cost or Market. (Moderate) Individual items, groups of items, entire inventory. Value determination. 10-15 E9-4 Lower of Cost or Market. (Easy) Allowance method, periodic system. Journal entries to record correct inventory value. 10-15 E9-5 Purchase Commitment. (Moderate) Loss. Journal entries to record transactions. 5-10 E9-6 Estimation of Fire Loss. (Easy) Determination of inventory value immediately prior to fire. 5-15 E9-7 (AICPA adapted). Gross Profit Method. (Moderate) Determination of estimated loss on inventory from fire. 5-15 E9-8 Gross Profit. (Easy) Determination of price and cost changes, gross profit changes. 5-15 E9-9 Gross Profit Percentage. (Moderate) Based on net sales, based on cost of goods sold. 5-10 E9-10 Retail Inventory Method. (Moderate) Average cost, FIFO, lower of cost or market, LIFO. Computation of ending inventory. 15-20 E9-11 (AICPA adapted). Retail Inventory Method. (Easy) Lower of cost or market. Computation of ending inventory. 10-15 E9-12 Retail Inventory Method. (Moderate) Average cost, FIFO, lower of cost or market, LIFO. Computation of ending inventory. 15-20 E9-13 Dollar-Value LIFO Retail. (Moderate) Determination of the cost of inventory for one year. 10-20 E9-14 Dollar-Value LIFO Retail. (Moderate) Determination of the cost of inventory for one year. 10-20 9-2 NumberContentTime Range (minutes)E9-15 (AICPA adapted). Dollar-Value LIFO Retail. (Easy) Determination of the cost of inventory for one year. 10-15 E9-16 Errors. (Moderate) Impact of misstated purchases and ending inventory on the income statement and balance sheet. 10-15 E9-17 (AICPA adapted). Errors. (Easy) Discovery of prior year inventory valuation error. Determination of correct net income. 10-15 P9-1 Lower of Cost or Market. (Moderate) Individual items, inventory as whole. Inventory value computation. Inventory values under IFRS. 15-20 P9-2 Lower of Cost or Market. (Challenging) Allowance and direct methods, periodic and perpetual systems. Journal entries. 15-25 P9-3 Lower of Cost or Market. (Moderate) Interim financial statement disclosure. 5-10 P9-4 Lower of Cost or Market. (Challenging) Allowance and direct methods, journal entries, financial statements. 20-25 P9-5 Gross Profit. (Moderate) Determination of gross profit as a percentage of net sales. 5-10 P9-6 Estimation of Theft Loss. (Moderate) Computation of inventory lost. ... View Full Document

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