[优质文档]财务管帐 双语教授教化 Financial Accounting Weygandt Kieso Kimmel ch06.pptVIP

John Wiley Sons, Inc.;CHAPTER 6 INVENTORIES;CLASSIFYING INVENTORY;STUDY OBJECTIVE 1 DETERMINING INVENTORY QUANTITIES;INTERNAL CONTROLS FOR PHYSICAL INVENTORY ;Seller;DETERMINING OWNERSHIP OF CONSIGNED GOODS; ;1;ASSUMED COST FLOW METHODS;Earliest goods purchased are the first to be sold. Cost of earliest goods purchased are the first to be recognized as cost of goods sold. Ending inventory consists of items purchased late in the year.; ;The accuracy of the cost of goods sold can be verified by recognizing that the first units acquired are the first units sold.;REVIEW QUESTION FIFO METHOD;Late