ch08solution - CHAPTER 8 Valuation of Inventories A Cost...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
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. Dollar-value LIFO  methods. 14, 15, 17,  18, 19 8, 9 23, 24, 25,  26 1, 8, 9, 10, 11 8, 9 8-1
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time  (minutes) E8-1 Inventoriable costs. Moderate  15-20 E8-2 Inventoriable costs. Moderate  10-15 E8-3 Inventoriable costs—perpetual Simple 10-15 E8-4 Inventoriable costs. Simple 10-15 E8-5 Inventoriable costs—error adjustments. Moderate 15-20 E8-6 Determining merchandise amounts—periodic. Simple 10-20 E8-7 Purchases recorded net. Simple 10-15 E8-8 Purchases recorded, gross method. Simple 20-25 E8-9 Periodic versus perpetual entries. Moderate 15-25 E8-10 Inventory errors, periodic. Simple 10-15 E8-11 Inventory errors. Simple 10-15 E8-12 Inventory errors. Moderate 15-20 E8-13 FIFO and LIFO—periodic and perpetual. Moderate 15-20 E8-14 FIFO, LIFO and average cost determination. Moderate 20-25 E8-15 FIFO, LIFO, average cost inventory. Moderate 15-20 E8-16 Compute FIFO, LIFO, average cost—periodic. Moderate 15-20 E8-17 FIFO and LIFO; periodic and perpetual. Simple 10-15 E8-18 FIFO and LIFO; income statement presentation. Simple 15-20 E8-19 FIFO and LIFO effects. Moderate 15-20 E8-20 FIFO and LIFO—periodic. Simple 10-15 E8-21 LIFO effect. Moderate 10-15 E8-22 Alternate inventory methods—comprehensive. Moderate 25-30 E8-23 Dollar-value LIFO. Simple 5-10 E8-24 Dollar-value LIFO. Simple 15-20 E8-25 Dollar-value LIFO. Moderate 20-25 E8-26 Dollar-value LIFO. Moderate 15-20 P8-1 Various inventory issues. Moderate 30-40 P8-2 Inventory adjustments. Moderate 25-35 P8-3 Purchases recorded gross and net. Simple 20-25 P8-4 Compute FIFO, LIFO, and average cost—periodic and  perpetual. Complex 40-55 P8-5 Compute FIFO, LIFO, and average cost—periodic and  perpetual. Complex 40-55 P8-6 Compute FIFO, LIFO, and average cost—periodic and  perpetual. Moderate  25-35 P8-7 Financial statement effects of FIFO and LIFO. Moderate 30-40 P8-8 Dollar-value LIFO. Moderate 30-40 8-2
Image of page 2
ASSIGNMENT CHARACTERISTICS TABLE (Continued) Item Description Level of Difficulty Time  (minutes) P8-9 Internal indexes—dollar-value LIFO. Moderate 25-35 P8-10 Internal indexes—dollar-value LIFO. Complex 30-35 P8-11 Dollar-value LIFO. Moderate 40-50 C8-1 Inventoriable costs. Moderate 15-20 C8-2 Inventoriable costs. Moderate 15-25 C8-3 Inventoriable costs. Moderate 25-35 C8-4 Accounting treatment of purchase discounts.
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern