'Perpetual system' presentation slideshows

CHAPTER 6

1.72k views • 172 slides

Module 6

Module 6. Inventory and Accounting for Merchandisers. Learning Objectives. Merchandising Activities. Computing Net Income. Merchandiser. Service Company. Net Sales. Revenue. Cost of Goods Sold. Gross Profit. Operating Expenses. Operating Expenses. Net Income. Net Income.

823 views • 66 slides

Module 6

Module 6. Inventory and Accounting for Merchandisers. Learning Objectives. Merchandising Activities. Computing Net Income. Merchandiser. Service Company. Net Sales. Revenue. Cost of Goods Sold. Gross Profit. Operating Expenses. Operating Expenses. Net Income. Net Income.

674 views • 66 slides

Chapter 6

Chapter 6. Inventories. Objectives:. Discuss inventory cost flow assumptions. Apply cost flow assumptions to determine the CGS and the value of ending inventory. Explain the lower-of-cost-or-market (LCM) rule for inventory reporting.

1.04k views • 65 slides

Inventories and Cost of Sales

Inventories and Cost of Sales. Chapter. 6. Learning objectives. 1. Basics of Inventory 2. Inventory costing under a perpetual system Specific identification, FIFO, LIFO, weighted average 3. Inventory valuation and effect of inventory error LCM principle 4. Decision analysis:

911 views • 64 slides

Accounting for Merchandise Inventory

Accounting for Merchandise Inventory. Chapter 6. Inventory Accounting Systems. Perpetual systems maintain a running record to show the inventory on hand at all times. Periodic systems do not keep a continuous record of inventory on hand.

853 views • 61 slides

Inventory

Inventory. By Rachelle Agatha, CPA, MBA. Slides by Rachelle Agatha, CPA, with excerpts from Warren, Reeve, Duchac. 0. Objectives. Describe the importance of control over inventory. Describe three inventory cost flow assumptions and how they impact the income statement and balance sheet.

776 views • 55 slides

Chapter 7: Inventory

Chapter 7: Inventory. Acquisition of inventory: What costs to capitalize? Recording inventory activity: Which method? Selling inventory: Which cost flow assumption? Ending inventory: Lower-of-cost-or market valuation. Chapter 7: Inventory. What items or units to include?

501 views • 28 slides

Differences in Accounting

Differences in Accounting. Topic: Stock valuation methods. Overview: Valuation of stocks. Details Austria. Do you have "valuation at the lower of cost principle"? Yes if the value of an inventory piece decreases under the market price you have to take the lower one .

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274 views • 12 slides

Welcome

Welcome . To Our Presentation on Inventories. First in, First Out (FIFO) method for inventory accounting . What is FIFO Why a company take FIFO method for their industry. First in, First Out (FIFO) method for inventory accounting . Advantages of FIFO Method Disadvantages of FIFO Method.

332 views • 12 slides