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c08 SM int 11e - CHAPTER 8 INVENTORIES COST MEASUREMENT AND...

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8-1 CHAPTER 8 INVENTORIES: COST MEASUREMENT AND FLOW ASSUMPTIONS CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Number Content Time Range (minutes) E8-1 Inventory . (Easy) Manufacturing company. Computation of ending account balances. 10-15 E8-2 Goods in Transit . (Easy) FOB destination. FOB shipping point. Items included as inventory, cost assigned. 5-10 E8-3 Items in Inventory . (Easy) Determine if numerous items should be included in inventory. 5-10 E8-4 Inventory Valuation . (Moderate) Journal entries to record a rebate. Effect on inventory valuation. 5-10 E8-5 Discounts . (Easy) Gross price and net price methods. Journal entries. 5-15 E8-6 Discounts . (Moderate) Gross price and net price methods. Journal entries. 5-15 E8-7 Inventory Methods . (Easy) Periodic system. Cost of goods sold and ending inventory under FIFO, LIFO, and average cost. 10-15 E8-8 Inventory Methods . (Easy) Perpetual system. Cost of goods sold and ending inventory under FIFO, LIFO, and average cost. IFRS differences. 15-25 E8-9 (AICPA adapted). Inventory Methods . (Moderate) Periodic system. Ending inventory under FIFO, LIFO, and weighted average. 15-20 E8-10 LIFO . (Easy) Perpetual and periodic systems. Ending inventory, cost of goods sold. 10-15 E8-11 Dollar-Value LIFO . (Easy) Determination of ending inventory at end of one year. 10-15 E8-12 Dollar-Value LIFO . (Moderate) Determination of ending inventory for four years. 10-20 E8-13 (AICPA adapted). Dollar-Value LIFO . (Moderate) Computation of year-end inventory for three years. 10-20 E8-14 (AICPA adapted). Dollar-Value LIFO . (Moderate) Computation of year-end inventory for three years. 10-20
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8-2 Number Content Time Range (minutes) E8-15 Inventory Pools . (Moderate) Dollar-value LIFO. Computation of ending inventory. 20-30 E8-16 Use of Different Methods . (Easy) FIFO used internally, LIFO used externally. Journal entries to convert accounts. Comparative balance sheet disclosure. Difference in cost of goods sold. 10-20 E8-17 Interim Financial Reports . (Easy) LIFO. Accounting for inventory liquidation in different quarters. Worksheet entry. 5-10 E8-18 (Appendix ). Exchange Gains and Losses . (Easy) Record journal entries for acquisition and payment. 5-10 E8-19 (Appendix ). Exchange Gains and Losses . (Easy) Record journal entries for sale and collection. 5-10 P8-1 Items in Inventory . (Moderate) Analyze several transactions to determine if included in inventory. 10-15 P8-2 Valuation of Inventory . (Moderate) Adjustment of ending inventory value to account for transactions not considered. 10-20 P8-3 Cost of Sales . (Moderate) FIFO, LIFO, and average cost. Ending inventory, cost of goods sold (in units and dollars). 20-30 P8-4 Discounts . (Moderate) Gross price and net price methods. Income determination, journal entries. 20-30 P8-5 Inventory Methods . (Challenging) FIFO, LIFO, and average cost under periodic and perpetual systems. Cost of goods sold, ending inventory. Reconcile LIFO periodic and LIFO perpetual.
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