CHAPTER 9 - CHAPTER 9 Accounting for Inventories ASSIGNMENT...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 9 Accounting for Inventories ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems 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, 6 1 2. Perpetual vs. periodic. 2 8, 9, 10, 13 2, 3, 4 3. Manufacturing costs. 7 4. Flow assumptions. 7, 8, 9, 11, 13 4, 5, 6 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 2, 3, 4, 5 5. Inventory accounting changes. 5, 7 6. Dollar-value LIFO methods. 10, 12 7, 8 18, 19, 20, 21 6, 8 7. Lower-of-cost-or-market. 14, 15, 16, 17 9, 10 22, 23, 24 9, 10, 11 8. Presentation and analysis. 18, 19 11 25 11 *9. Gross profit method. 20, 21 12 26 12 *This material is presented in the appendix. ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Identify major classifications of inventory. 1, 2 1, 2, 3, 4, 7 2. Distinguish between perpetual and periodic inventory systems. 2, 4, 5, 6 5, 6, 7, 8, 9, 13 2, 3, 4, 5 3. Understand the items to include as inventory cost. 3 1, 2, 3, 4, 6, 7, 16 1 4. Describe and compare the cost flow assumptions used to account for inventories. 8, 9, 10, 11, 12, 13, 15, 17, 18 1, 2, 3, 4, 5, 7 5. Explain the significance and use of a LIFO reserve. 17 6. Understand the effect of LIFO liquidations. 6, 7 7. Explain the dollar-value LIFO method. 7, 8 18, 19, 20, 21 1, 6, 8 8. Explain the major advantages and disadvantages of LIFO. 16 9. Describe and apply the lower-of- cost-or-market rule. 9, 10, 11 22, 23, 24 9, 10, 11 10. Explain how to report and analyze inventory. 14, 25 5, 11 *11. Determine ending inventory by applying the gross profit method. 12 26 12 * This material is discussed in the appendix. ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E9-1 Inventoriable costs. Moderate 1520 E9-2 Inventoriable costs. Moderate 1015 E9-3 Inventoriable costs. Simple 1015 E9-4 Inventoriable costs. Moderate 1525 E9-5 Inventoriable costs. Simple 1015 E9-6 Determining merchandise amounts. Simple 1020 E9-7 Financial statement presentation of manufacturing amounts. Moderate 2025 E9-8 Periodic versus perpetual entries. Moderate 1525 E9-9 FIFO and LIFOperiodic and perpetual. Moderate 1520 E9-10 FIFO, LIFO and average cost determination. Moderate 2025 E9-11 FIFO, LIFO, average cost inventory. Moderate 1520 E9-12 Compute FIFO, LIFO, average costperiodic. Moderate 1520 E9-13 FIFO and LIFO; periodic and perpetual. Simple 1015 E9-14 FIFO and LIFO; income statement presentation. Simple 1520 E9-15 FIFO and LIFO effects. Moderate 1520 E9-16 FIFO and LIFOperiodic. Simple 1015 E9-17 LIFO effect. Moderate 1015 E9-18 Alternate inventory methodscomprehensive. Moderate 2530 E9-19 Dollar-value LIFO. Simple 510 E9-20 Dollar-value LIFO. Simple 1520 E9-21 Dollar-value LIFO. Moderate 2025...
View Full Document

Page1 / 45

CHAPTER 9 - CHAPTER 9 Accounting for Inventories ASSIGNMENT...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online