中级财务教材新会计英文ch05.pptVIP

Inventories: Basic Valuation Methods Special Valuation Methods Chapter 5 Learning Objectives Describe how inventory accounts are classified. Explain the uses of perpetual and periodic inventory systems. Identify how inventory quantities are determined. Determine the cost of inventory. Compute ending inventory and cost of goods sold under specific identification, FIFO, average cost, and LIFO. Explain the conceptual issues regarding alternative inventory cost flow assumptions. Understand dollar-value LIFO. Explain additional LIFO issues. Understand inventory disclosures. Learning Objectives