ch09 - CHAPTER 9 Inventories Additional Valuation Issues...

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Unformatted text preview: CHAPTER 9 Inventories: Additional Valuation Issues ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 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 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Bri ef Exe rcis es Exer cise s Pr ob le ms 1. Describe and apply the lower-of-cost-or market rule. 1, 2, 3 1, 2, 3, 4, 5, 6 1, 2, 3, 9, 10 2. Explain when companies value inventories at net realizable value. 1, 2, 3 1, 2, 3, 4, 5, 6 1, 2, 3, 9, 10 3. Explain when companies use the relative sales value method to value inventories. 4 7, 8 4. Discuss accounting issues related to purchase commitments. 5, 6 9, 10 9 5. Determine ending inventory by applying the gross profit method. 7 11, 12, 13, 14, 15, 16, 17 4, 5 6. Determine ending inventory by applying the retail inventory method. 8 18, 19, 20 6, 7, 8 7. Explain how to report and analyze inventory. 9 21 9 *8. Determine ending inventory by applying the LIFO retail methods. 10, 11 22, 23, 24, 25, 26, 27, 28 11, 12, 13, 14 *This material is discussed in an Appendix to the chapter. 9-2 ASSIGNMENT CHARACTERISTICS TABLE 9-3 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 9-4 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. 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...
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ch09 - CHAPTER 9 Inventories Additional Valuation Issues...

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