会计学：企业决策的基础（管理会计分册）课件 Williams_FinMan_19e_Chap008_PPT.pptx

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会计学：企业决策的基础（管理会计分册）课件 Williams_FinMan_19e_Chap008_PPT.pptx

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Chapter8InventoriesandtheCostofGoodsSold

DefiningInventoryInamerchandisingcompany,inventoryconsistsofallgoodsownedandheldforsaletocustomers.Inventoryisexpectedtobeconvertedintocashwithinthecompany’soperatingcycle.Inthebalancesheet,inventoryislistedimmediatelyafteraccountsreceivable,becauseitisjustonestepfurtherremovedfromconversionintocashthancustomerreceivables.

FlowofCoststhroughFinancialStatements

WhichUnitDidWeSell?Inpractice,acompanyoftenhasinitsinventoryidenticalunitsofagivenproductthatwereacquiredatdifferentcosts.Acquisitioncostsmayvarybecausetheunitswerepurchased:Atdifferentdates.Fromdifferentsuppliers.Indifferentquantities.KEYPOINTWhenidenticalunitsofinventoryhavedifferentunitcosts,aquestionarisesastowhichofthesecostsshouldbeusedinmeasuringthecostofgoodssold.

InventorySubsidiaryLedger

InventoryLayersNoticethat,onFebruary5,theBalancecolumnscontaintwo“layers”ofunitcostinformation,representingtheunitspurchasedatthetwodifferentunitcosts.Anewcostlayeriscreatedwheneverunitsareacquiredatadifferentper-unitcost.(Asallunitscomprisingacostlayeraresold,thelayeriseliminatedfromtheinventory.Therefore,abusinessisunlikelytohavemorethanthreeorfourcostlayersinitsinventoryatanygiventime.)

InventoryCostingOptionsUnderU.S.GAAP,companieshavefourbasicoptionsforcostinginventories.Theymayuse:SpecificIdentificationAcceptableonlywhentheactualcostsofindividualunitsofmerchandisecanbedeterminedfromtheaccountingrecords.CostFlowAssumptionSellermakesanassumptionastothesequenceinwhichunitsarewithdrawnfrominventory.

InventoryCostFlowAssumptionsAveragecostValuesallmerchandiseattheaverageper-unitcost.FIFO(first-in,first-out)Assumesthatgoodssoldarethefirstunitsthatwerepurchasedandtheremaininginventoryiscompr