Table of Contents
Chapter 8 Inventories
LEARNING OBJECTIVES
LEARNING OBJECTIVES (continued)
Management Issues Associated with
Accounting for Inventories
Inventory Management
Inventory Issues
Accounting for Inventories
PPT Slide
Applying the Matching Rule to
Inventories
Applying the Matching Rule
The Effect of Ending Inventory
The Impact of Inventory
Decisions
Evaluating the Level of
Inventory
Inventory Turnover
Inventory Turnover
PPT Slide
Average Daysí Inventory on
Hand
Average Daysí Inventory on
Hand
PPT Slide
Discussion
Pricing Inventory Under the Periodic
Inventory System
The AICPA States . . .
Inventory Cost
Merchandise in Transit
Merchandise in Transit
(continued)
Merchandise on Hand Not Included in
Inventory
Inventory Pricing Issues
Methods of Pricing Inventory at
Cost
Illustrative Data for the Four
Methods
Discussion
Specific Identification Method
Specific Identification Method for
Pricing Ending Inventory
Average-Cost Method
Average-Cost Method for Pricing
Ending Inventory
First-In, First-Out (FIFO)
Method
First-In, First-Out (FIFO) Method
for Pricing Ending Inventory
Last-In, First-Out (LIFO) Method
Last-In, First-Out (LIFO) Method for
Pricing Ending Inventory
Discussion
Pricing Inventory Under the
Perpetual Inventory System
Pricing Inventory Under the
Perpetual Inventory System
Illustrative Data for the Three
Methods
Perpetual Inventory System:
Average-Cost Method
Perpetual Inventory System: FIFO
Method
Perpetual Inventory System: LIFO
Method
Discussion
Comparison and Impact of Inventory
Decisions and Misstatements
Effects of Inventory Systems and
Methods
Effects on the Financial
Statements
LIFO
FIFO
Effects on Income Taxes
Effects on Income Taxes
(continued)
PPT Slide
Effects of Misstatements in
Inventory Measurement
Summary of the Effects of
Misstatements in Inventory
Discussion
A.
Valuing Inventory at the
Lower-of-Cost-or-Market (LCM)
Inventory Valuation
Discussion
Valuing Inventory by Estimation
Retail Method of Inventory
Estimation
Valuing Inventory by Estimation
Gross Profit Method of Inventory
Estimation
Discussion
PPT Slide
PPT Slide
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