中级财会ch08课程.pptVIP

Objectives 1. Understand the lower of cost or market method. 2. Explain the conceptual issues regarding the lower of cost or market method. 3. Understand purchase obligations and product financing arrangements. 4. Explain the valuation of inventory above cost. 5. Use the gross profit method. Lower of Cost or Market Purchase Obligations and Product Financing Arrangements Valuation Above Cost Precious metals having a fixed monetary value with no substantial cost of marketing. Agricultural, mineral and other products, units of which are interchangeable, and have an immediate marketability at qu