Chapter: Introduction

Outsider Perspective: What Do I See?

• Cost of sales and inventory terms, concepts, and disclosures

Insider Perspective:  What’s Behind the Numbers?

• Inventory basics: terms, concepts, computations, and entries
• LIFO liquidations and LIFO reserve reversals
• Inventory impairments

Outsider Perspective: How Do I Use the Numbers?

• Analyzing cost of sales and inventory