英式会计教程.pptVIP

6.2 Inventory Costing , p146 Inventory costing method 1: Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Specific Identification Inventory Cost Flow Assumptions Inventory costing method 2: First-in, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) First-In, First-Out (FIFO) Summary:First-In, First-Out (FIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Last-In, First-Out (LIFO) Inventory Costing method 3:Last-In, First-Out (LIFO) Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Weighted Average Comparison of four costing methods: Suppose that Total sales: $6,050 Expenses: 450 Income tax rate: 30% Financial Statement Effects of Costing Methods Financial Statement Effects of Costing Methods Frequency in Use of Inventory Methods Tax Effects of Costing Methods Consistency in Using Costing Methods First, the company takes the cost of the ten units from the most recent purchase on August twenty eighth at one hundred nineteen dollars each. Then, they move up to the next most recent purchase on August seventeenth, and take the cost of thirteen units at one hundred fifteen dollars each. ? The Cost of Goods Sold for August thirty first is two thousand, six hundred eighty-five dollars. After the August thirty first sale, there are twelve units in inventory: five units at ninety-one dollars each and seven units at one hundred fifteen dollars each. Using LIFO, Trekking would report Cost of Goods Sold on their August income statement of four thousand, seven hundred thirty dollars. And, they would report Ending