ch09solution - CHAPTER 9 Inventories Additional Valuation...

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CHAPTER 9 Inventories: Additional Valuation Issues ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases 1. Lower of cost or market. 1, 2, 3, 4, 5, 6 1, 2, 3 1, 2, 3, 4, 5, 6 1, 2, 3, 9, 10 1, 2, 3 2. Inventory accounting changes; relative sales value method; net real- izable value. 7, 8 4 7, 8 7, 11 4 3. Purchase commitments. 9 5, 6 9, 10 9 4. Gross profit method. 10, 11, 12, 13 7 11, 12, 13, 14, 15, 16, 17 4, 5 5. Retail inventory method. 14, 15, 16 8 18, 19, 20, 22, 23, 26 6, 7, 8, 10, 11 4, 5, 6 6. Presentation and analysis. 17, 18 9 21 9 *7. LIFO retail. 19 10 22, 23 12, 13, 14 7 *8. Dollar-value LIFO retail. 11 24, 25, 26, 27 11, 13 *9. Special LIFO problems. 28 13, 14 *This material is discussed in an Appendix to the chapter. 9-1
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1.1 ASSIGNMENT CHARACTERISTICS TABLE It e m Description Level of Difficu lty Time (minut es) E 9- 1 Lower of cost or market. Simple 15-20 E 9- 2 Lower of cost or market. Simple 10-15 E 9- 3 Lower of cost or market. Simple 15-20 E 9- 4 Lower of cost or market—journal entries. Simple 10-15 E 9- 5 Lower of cost or market—valuation account. Moder ate 20-25 E 9- 6 Lower of cost or market—error effect. Simple 10-15 E 9- 7 Relative sales value method. Simple 15-20 E 9- 8 Relative sales value method. Simple 12-17 E 9- 9 Purchase commitments. Simple 05-10 E 9- 10 Purchase commitments. Simple 15-20 E 9- 11 Gross profit method. Simple 8-13 E 9- 12 Gross profit method. Simple 10-15 E 9- 13 Gross profit method. Simple 15-20 E 9- 14 Gross profit method. Moder ate 15-20 E 9- 15 Gross profit method. Simple 10-15 9-2
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E 9- 16 Gross profit method. Simple 15-20 E 9- 17 Gross profit method. Moder ate 20-25 E 9- 18 Retail inventory method. Moder ate 20-25 E 9- 19 Retail inventory method. Simple 12-17 E 9- 20 Retail inventory method. Simple 20-25 E 9- 21 Analysis of inventories—turnover and days to sell. Simple 10-15 *E 9- 22 Retail inventory method—conventional and LIFO. Moder ate 25-35 *E 9- 23 Retail inventory method—conventional and LIFO. Moder ate 15-20 *E 9- 24 Dollar-value LIFO retail. Simple 10-15 *E 9- 25 Dollar-value LIFO retail. Simple 5-10 *E 9- 26 Conventional retail and dollar-value LIFO retail. Moder ate 20-25 *E 9- 27 Dollar-value LIFO retail. Moder ate 20-25 *E 9- 28 Change to LIFO retail. Simple 10-15 P 9- 1 Lower of cost or market. Simple 10-15 P 9- 2 Lower of cost or market. Moder ate 25-30 P 9- 3 Entries for lower of cost or market—direct and allowance. Moder ate 30-35 P 9- 4 Gross profit method. Moder ate 20-30 9-3
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P 9- 5 Gross profit method. Compl ex 40-45 P 9- 6 Retail inventory method. Moder ate 20-30 P 9- 7 Retail inventory method. Moder ate 20-30 9-4
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ASSIGNMENT CHARACTERISTICS TABLE (Continued) 9-5
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It e m Description Level of Difficu lty Time (minut es) P 9- 8 Retail inventory method. Moder ate 20-30 P 9- 9 Statement and note disclosure, LCM, and purchase commitment. Moder ate 30-40 P 9- 10 Lower of cost or market. Moder ate 30-40 *P 9- 11 Conventional and dollar-value LIFO retail. Moder ate 30-35 *P 9- 12 Retail, LIFO retail, and inventory shortage. Moder ate 30-40 *P 9- 13 Change to LIFO retail. Moder ate 30-40 *P 9- 14 Change to LIFO retail; dollar-value LIFO retail. Compl ex 40-50 C 9- 1 Lower of cost or market. Moder ate 15-25 C 9- 2 Lower of cost or market—ethics Moder ate 20-30 C 9- 3 Lower of cost or market.
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