Ratios with different inventory methods
Notes: Short-term debt and current liabilities
Notes: Short-term debt and current liabilities
Inventory disclosures: Found in financial statement footnotes Making adjustments to facilitate comparisons with other firms Includes: Cost flow method used (LIFO, FIFO…) Total carrying value …
The effects of writedown includes Decrease both current and total assets (CA) CA = quantity * unit cost, unit cost decreased → CA decreased Current …
Under IFRS, Inventory is reported on BS at Lower of cost or Net realizable value Net realizable value (NRV) (13) Expected sales price – estimated …
LIFO Liquidation (13) Sells (or issues) the old stock of merchandise (or raw materials) inventory. It occurs when a company using LIFO method sells (or …
Adjust the financial statements of LIFO firms to compare with FIFO firms: LIFO inventory < FIFO inventory LIFO COGS > FIFO COGS LIFO net income …
Period cost Costs that are expensed in the period incurred Including Abnormal waste of materials, labor, overhead Storage costs Administrative overhead Selling costs Notes Rebate …
Product cost (1) Capitalized in inventories account on balance sheet Purchase cost – trade discounts and rebates Conversion costs: labor + overhead Other costs necessary …
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