CH08 - CHAPTER 8 Valuation of Inventories: A Cost Basis...

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CHAPTER 8 Valuation of Inventories: A Cost Basis Approach ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases 1. Inventory accounts; determining quantities, costs, and items to be included in inventory; the inventory equation; balance sheet disclosure. 1, 2, 3, 4, 5, 6, 8, 9 1, 3 1, 2, 3, 4, 5, 6, 11 1, 2, 3 1, 2, 3, 5, 6 2. Perpetual vs. periodic. 2 10, 15, 16, 19 4, 5, 6 3. Recording of discounts. 10, 11 4 8, 9, 12 3 4 4. Inventory errors. 7 2, 3, 4, 5, 11, 12, 13, 14 2 5. Manufacturing costs. 7 6 6. Flow assumptions. 12, 13, 16, 18, 20 5, 6, 7 15, 16, 17, 18, 19, 20, 21, 22, 23, 24 1, 4, 5, 6, 7 5, 6, 7, 8, 9 7. Inventory accounting changes. 20 7, 9 7, 8 8. Dollar-value LIFO methods. 14, 17, 18, 19 8, 9 25, 26, 27, 28 1, 8, 9, 10, 11, 12 9, 10 8-1
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ASSIGNMENT CHARACTERISTICS TABLE 8-2
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It e m Description Level of Diffic ulty Time (minu tes) E 8- 1 Inventoriable costs. Moder ate 15-20 E 8- 2 Inventoriable costs. Moder ate 10-15 E 8- 3 Inventoriable costs Simpl e 10-15 E 8- 4 Inventoriable costs. Simpl e 10-15 E 8- 5 Inventoriable costs—error adjustments. Moder ate 15-20 E 8- 6 Determining merchandise amounts. Simpl e 10-20 E 8- 7 Financial statement presentation of manufacturing amounts Moder ate 20-25 E 8- 8 Purchases recorded net. Simpl e 10-15 E 8- 9 Purchases recorded net. Simpl e 20-25 E 8- 10 Periodic versus perpetual entries. Moder ate 15-25 E 8- 11 Inventory errors. Simpl e 10-15 E 8- 12 Inventory errors. Simpl e 10-15 E 8- 13 Inventory errors. Simpl e 10-15 E 8- 14 Inventory errors. Moder ate 15-20 E 8- 15 FIFO and LIFO—periodic and perpetual. Moder ate 15-20 8-3
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E 8- 16 FIFO, LIFO and average cost determination. Moder ate 20-25 E 8- 17 FIFO, LIFO, average cost inventory. Moder ate 15-20 E 8- 18 Compute FIFO, LIFO, average cost—periodic. Moder ate 15-20 E 8- 19 FIFO and LIFO; periodic and perpetual. Simpl e 10-15 E 8- 20 FIFO and LIFO; income statement presentation. Simpl e 15-20 E 8- 21 FIFO and LIFO effects. Moder ate 15-20 E 8- 22 FIFO and LIFO—periodic. Simpl e 10-15 E 8- 23 LIFO effect. Moder ate 10-15 E 8- 24 Alternate inventory methods—comprehensive. Moder ate 25-30 E 8- 25 Dollar-value LIFO. Simpl e 5-10 E 8- 26 Dollar-value LIFO. Simpl e 15-20 E 8- 27 Dollar-value LIFO. Moder ate 20-25 E 8- 28 Dollar-value LIFO. Moder ate 15-20 P 8- 1 Various inventory issues. Moder ate 30-40 P 8- 2 Inventory adjustments. Moder ate 25-35 P 8- 3 Purchases recorded gross and net. Simpl e 20-25 P 8- 4 Compute FIFO, LIFO, and average cost—periodic and perpetual. Compl ex 40-55 8-4
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P 8- 5 Compute FIFO, LIFO, and average cost—periodic and perpetual. Compl ex 40-55 P 8- 6 Compute FIFO, LIFO, and average cost—periodic and perpetual. Moder ate 25-35 P 8- 7 Financial statement effects of FIFO and LIFO. Moder ate 30-40 P 8- 8 Dollar-value LIFO. Moder ate 30-40 8-5
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ASSIGNMENT CHARACTERISTICS TABLE (Continued) It e m Description Level of Diffic ulty Time (minu tes) P 8- 9 LIFO effect on income. Moder ate 30-35 P 8- 10 Internal indexes—dollar-value LIFO.
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CH08 - CHAPTER 8 Valuation of Inventories: A Cost Basis...

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