8 - CHAPTER 8 Accounting for Inventories ASSIGNMENT...

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8-1 CHAPTER 8 Accounting for Inventories 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 1, 3 1, 2, 3, 4, 5 1 1, 2, 3, 4 2. Perpetual vs. periodic. 2 7, 8, 9, 12 2, 3, 4 3. Manufacturing costs. 6 4. Flow assumptions. 7, 8, 9, 11, 13 4, 5, 6 8, 9, 10, 11, 12, 13, 14, 15, 16, 17 2, 3, 4, 5 5, 6, 7, 8, 9 5. Inventory accounting changes. 5, 7 5, 6, 9 6. Dollar-value LIFO methods. 10, 12 7, 8 17, 18, 19, 20 6, 8 7, 8 7. Lower of cost or market. 14, 15, 16, 17 9, 10 21, 22, 23 9, 10, 11 10, 11 8. Presentation and analysis. 18, 19 11 24 11 *9. Gross profit method. 20, 21 12 25 12 12 *This material is presented in the appendix.
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8-2 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 Simple 10-15 E8-4 Inventoriable costs. Simple 10-15 E8-5 Determining merchandise amounts. Simple 10-20 E8-6 Financial statement presentation of manufacturing amounts Moderate 20-25 E8-7 Periodic versus perpetual entries. Moderate 15-25 E8-8 FIFO and LIFO—periodic and perpetual. Moderate 15-20 E8-9 FIFO, LIFO and average cost determination. Moderate 20-25 E8-10 FIFO, LIFO, average cost inventory. Moderate 15-20 E8-11 Compute FIFO, LIFO, average cost—periodic. Moderate 15-20 E8-12 FIFO and LIFO; periodic and perpetual. Simple 10-15 E8-13 FIFO and LIFO; income statement presentation. Simple 15-20 E8-14 FIFO and LIFO effects. Moderate 15-20 E8-15 FIFO and LIFO—periodic. Simple 10-15 E8-16 LIFO effect. Moderate 10-15 E8-17 Alternate inventory methods—comprehensive. Moderate 25-30 E8-18 Dollar-value LIFO. Simple 5-10 E8-19 Dollar-value LIFO. Simple 15-20 E8-20 Dollar-value LIFO. Moderate 20-25 E8-21 Lower of cost or market. Simple 15-20 E8-22 Lower of cost or market. Simple 10-15 E8-23 Lower of cost or market. Simple 15-20 E8-24 Analysis of inventories. Simple 10-15 *E8-25 Gross profit method. Moderate 15-20 P8-1 Various inventory issues. Moderate 30-40 P8-2 Compute FIFO, LIFO, and average cost—periodic and perpetual. Complex 40-55 P8-3 Compute FIFO, LIFO, and average cost—periodic and perpetual. Complex 40-55 P8-4 Compute FIFO, LIFO, and average cost—periodic and perpetual. Moderate 25-35 P8-5 Financial statement effects of FIFO and LIFO. Moderate 30-40 P8-6 Dollar-value LIFO. Moderate 30-40 P8-7 LIFO effect on income. Moderate 30-35 P8-8 Dollar-value LIFO. Moderate 40-50 P8-9 Lower of cost or market. Simple 10-15 P8-10 Lower of cost or market. Complex 30-40 P8-11 Statement and note disclosure, LCM. Moderate 30-40 *P8-12 Gross profit method. Moderate 20-30
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8-3 ASSIGNMENT CHARACTERISTICS TABLE (Continued) Item Description Level of Difficulty Time (minutes) C8-1 Inventoriable costs. Moderate 15-20 C8-2 Inventoriable costs. Moderate 15-25 C8-3 Inventoriable costs—complex. Moderate 25-35 C8-4 General inventory issues. Moderate 20-25 C8-5 LIFO inventory advantages. Simple 15-20 C8-6 Average cost, FIFO, and LIFO. Simple 15-20 C8-7 LIFO application and advantages. Moderate 25-30 C8-8 Dollar-value LIFO issues. Moderate 25-30 C8-9 Inventory changes—FIFO and LIFO.
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