Cost of Sales and Supplier-Related Balance Sheet Concepts

   Click to print this chapter's exercises [pdf]

Click below for preliminary videos and exercises for this chapter. Eventually, we plan to develop the full chapter content and post it here, similar to the Balance Sheet Chapter Map.

Videos:

What Do I See? Express: Inventory Costs Outflows- Cost of Sales and Inventory Disclosures

What’s Behind the Numbers? Express: Inventory Cost Outflows

Scenic: Cost of Sales and Inventories Basics

Scenic: LIFO Liquidations and LIFO Reserve Reversals

Scenic: Inventory Impairments

Text:

Accounting for Manufacturing and Inventory Impairments  [pdf]

Exercises:

Cost inflows-

in.wbn.ins.010 Recording inventory cost inflows and financial-statement effects (Bischoff entries and Intel's financials)

in.wbn.ins.020 Recording inventory write-offs and identifying and analyzing their financial-statement effects (RIM)

in.wbn.ins.030 Recording depreciation and amortization entry and identifying its financial-statement effects (Starbucks)

Cost outflows-

in.wbn.outs.010 Determining inventory cost outflow measures and entries (CTSW Company)

in.wbn.outs.020 Converting LIFO to FIFO, recording related entries, and identifying their financial-statement effects (ADM)

in.wbn.outs.030 Identifying ratio consequences of converting LIFO to FIFO (Jim's Dental)

in.wbn.outs.040 Converting LIFO to FIFO, recording related entries, and identifying their financial-statement effects (HD)

How Do I Use the Numbers-

in.hun.010 Analyzing inventories (LIFO/FIFO)

 

Optional materials:

Eagle Excel Model and Related Materials

 

 

 

 

 

 

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