Scenic: Cost of Sales and Inventories Basics

Topics:

  • IFRS and US GAAP
    • Cost methods
    • Permissible IFRS methods
    • Measurement: Perpetual and periodic systems
  • US GAAP
    • Measurement: LIFO
    • Entries
    • LIFO and FIFO pretax income
    • LIFO tax savings
  • Outsiders
    • What do they see?
    • What can they derive?

Express Video: [52 min]

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