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Unformatted text preview: 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, 10 1, 2, 3 1, 2, 3, 5, 11 2. Perpetual vs. periodic. 2 9, 13, 14, 17 4, 5, 6 3. Recording of discounts. 10, 11 7, 8 3 4 4. Inventory errors. 7 4 2, 3, 4, 5, 10, 11, 12 2 5. Flow assumptions. 12, 13, 16, 18, 20 5, 6, 7 13, 14, 15, 16, 17, 18, 19, 20, 21, 22 1, 4, 5, 6, 7 5, 6, 7, 8 6. Inventory accounting changes. 18 7 6, 7, 10 7. Dollarvalue LIFO methods. 14, 15, 17, 18, 19 8, 9 23, 24, 25, 26 1, 8, 9, 10, 11 8, 9 81 ASSIGNMENT CHARACTERISTICS TABLE 82 It e m Description Level of Difficu lty Time (minut es) E 8 1 Inventoriable costs. Moder ate 1520 E 8 2 Inventoriable costs. Moder ate 1015 E 8 3 Inventoriable costsperpetual Simple 1015 E 8 4 Inventoriable costs. Simple 1015 E 8 5 Inventoriable costserror adjustments. Moder ate 1520 E 8 6 Determining merchandise amountsperiodic. Simple 1020 E 8 7 Purchases recorded net. Simple 1015 E 8 8 Purchases recorded, gross method. Simple 2025 E 8 9 Periodic versus perpetual entries. Moder ate 1525 E 8 10 Inventory errors, periodic. Simple 1015 E 8 11 Inventory errors. Simple 1015 E 8 12 Inventory errors. Moder ate 1520 E 8 13 FIFO and LIFOperiodic and perpetual. Moder ate 1520 83 E 8 14 FIFO, LIFO and average cost determination. Moder ate 2025 E 8 15 FIFO, LIFO, average cost inventory. Moder ate 1520 E 8 16 Compute FIFO, LIFO, average costperiodic. Moder ate 1520 E 8 17 FIFO and LIFO; periodic and perpetual. Simple 1015 E 8 18 FIFO and LIFO; income statement presentation. Simple 1520 E 8 19 FIFO and LIFO effects. Moder ate 1520 E 8 20 FIFO and LIFOperiodic. Simple 1015 E 8 21 LIFO effect. Moder ate 1015 E 8 22 Alternate inventory methodscomprehensive. Moder ate 2530 E 8 23 Dollarvalue LIFO. Simple 510 E 8 24 Dollarvalue LIFO. Simple 1520 E 8 25 Dollarvalue LIFO. Moder ate 2025 E 8 26 Dollarvalue LIFO. Moder ate 1520 P 8 1 Various inventory issues. Moder ate 3040 P 8 2 Inventory adjustments. Moder ate 2535 84 P 8 3 Purchases recorded gross and net. Simple 2025 P 8 4 Compute FIFO, LIFO, and average costperiodic and perpetual. Compl ex 4055 P 8 5 Compute FIFO, LIFO, and average costperiodic and perpetual. Compl ex 4055 P 8 6 Compute FIFO, LIFO, and average costperiodic and perpetual. Moder ate 2535 P 8 7 Financial statement effects of FIFO and LIFO. Moder ate 3040 P 8 8 Dollarvalue LIFO. Moder ate 3040 85 ASSIGNMENT CHARACTERISTICS TABLE (Continued) It e m Description Level of Difficu lty Time (minut es) P 8 9 Internal indexesdollarvalue LIFO. Moder ate 2535 P 8 10 Internal indexesdollarvalue LIFO. Compl ex 3035 P 8 11 Dollarvalue LIFO. Moder ate 4050 C 8 1...
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 Spring '08
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