[会计学原理英文课件pptCh6.ppt

Chapter 6 Inventories and Cost of Sales Conceptual Chapter Objectives C1: Identify the items making up merchandise inventory C2: Identify the costs of merchandise inventory Analytical Chapter Objectives A1: Analyze the effects of inventory methods for both financial and tax reporting A2: Analyze the effects of inventory errors on current and future financial statements A3: Assess inventory management using both inventory turnover and days’ sales in inventory Procedural Chapter Objectives P1: Compute inventory in a perpetual system using the methods of specific identification, FIFO, LIFO, and weighted average P2: Compute the lower of cost or market amount of inventory P3: Appendix 6A: Compute inventory in a periodic system using the methods of specific identification, FIFO, LIFO, and weighted average P4: Appendix 6B: Apply both the retail inventory and gross profit methods to estimate inventory. Determining Inventory Items Goods in Transit Goods on Consignment Goods Damaged or Obsolete Determining Inventory Costs Internal Controls and Taking a Physical Count Inventory Costing Under a Perpetual System Inventory Costing Under a Perpetual System Frequency in Use of Inventory Methods Inventory Cost Flow Assumptions Inventory Costing Illustration Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average We