財務(wù)會計概念與應(yīng)用英文版lectu(1)(編輯修改稿)
2025-02-02 21:28 本頁面
【文章內(nèi)容簡介】 Specific Identification – Each item is specifically identified. – Usually used for large or expensive items (cars). 11 Inventory Cost Flow ? Rice King buys and sells rice and had the following transactions for the year: ? June 10 Purchased 10 tons at $6 per ton. ? July 28 Purchased 10 tons at $9 per ton. ? October 10 Sold 10 tons at $11 per ton. ? How much did Rice King make during the year? FIFO LIFO Avg. Cost Sold Sold Sold Old Rice New Rice Mixed Rice Sales ($11 x 10 tons) $110 $110 $110 COGS (10 tons) 60 90 75 Gross margin $ 50 $ 20 $ 35 12 LIFO vs. FIFO ? FIFO gives a better measure of inventory on the balance sheet. ? Therefore, FIFO is a better measure of inventory value. ? LIFO gives a better reflection of COGS on the ine statement. ? Therefore, LIFO is a better measure of ine. 13 Managing Inventory It’s a balance! Avoid tying up resources in inventory. Vs. Maintaining sufficient inventory for smooth business operations. 14 Measuring the Management of Inventory ? Inventory Turnover – How many times during the year a pany sells all of its inventory. Cost of Goods Sold Average Inventory 15 Measuring the Management of Inventory ? Number of Days’ Sales in Inventory – How many days worth of sales the pany has in inventory. 365 Inventory Turnover Calculated as cost of goods sold divided by average inventory. (Shown in previous slide). 16 Managing the Operating Cycle ? Number of Days’ Purchases in Accounts Payable – How many days worth of inventory the pany has in accounts payable. 365 Purchases / Average Account Payable Days’ Purchases in Accounts Payable External Financing Days’ Sales in Inventory Average Collection Period 30 Days 80 Days 38 Days 72 Days 17 Inventory Errors ? Inventory erro
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