Chap9 Notes - Inventories Additional Valuation Issues(for...

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Inventories: Additional Valuation Issues (for Tues 24 and Thur 26)
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Learning Objectives 5. Determine ending inventory by applying the gross profit method. 6. Determine ending inventory by applying the retail inventory method. 7. Explain how to report and analyze inventory. After studying this chapter, you should be able to: LEARNING OBJECTIVES 1. Describe and apply the lower-of-cost-or- market rule. 2. Explain when companies value inventories at net realizable value. 3. Explain when companies use the relative sales value method to value inventories. 4. Discuss accounting issues related to purchase commitments.
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PREVIEW OF CHAPTER 9
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