Session 10 - Handout

Session 10 - Handout - Fall 2010 Professor Keating Session...

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Unformatted text preview: Fall 2010 Professor Keating Session #10 AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 2 Gross Margin and Inventory Analysis AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 3 Gross Margin Analysis AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 4 Understanding COGS AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 5 Inventory Journal Entries AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 6 Inventory Accounting (cont.) AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Whose Inventory Is it? Pg. 7 AC 611: Financial Accounting Problems I Elizabeth K. Keating, 2010 Session #10 Pg. 8 Whats In Inventory? AC 611: Financial Accounting Problems I ! All costs required to obtain physical possession of the inventory and to make it saleable, including: ! Purchase cost ! Sales taxes and transportation paid by the buyer ! Insurance costs ! Storage costs ! Production costs (labor and overhead) for a manufacturer ! In theory, inventory costs should also include the (indirect ) costs of the purchasing department and other general and administrative costs associated with the acquisition and distribution of inventory.of inventory....
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This note was uploaded on 03/02/2011 for the course AC 611 taught by Professor Keating during the Spring '11 term at Bentley.

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Session 10 - Handout - Fall 2010 Professor Keating Session...

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