a distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred;

Question 1

Costs included in inventories

Answer 1

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Question 2

Costs recognized as expenses in the period in which they are incurred

Answer 2

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Question 3

Distinguish between costs included in inventories and Costs recognized as expenses in the period in which they are incurred

Answer 3

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Question 4

Inventory valuation methods aka

Answer 4

cost formulas

Question 5

Describe different cost formulas

Answer 5

(inventory valuation methods)

Question 6

Calculate the cost of sales and ending inventory using LIFO

Answer 6

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Question 7

Calculate the cost of sales and ending inventory using FIFO

Answer 7

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Question 8

Calculate the cost of sales and ending inventory using ( w/e else )

Answer 8

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Question 9

Explain the effect of LIFO on gross profit

Answer 9

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Question 10

Explain the effect of FIFO on gross profit

Answer 10

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Question 11

Explain the effect of ( ) on gross profit

Answer 11

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Question 12

Calculate cost of sales using perpetual inventory systems

Answer 12

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Question 13

Calculate gross profit using perpetual inventory systems

Answer 13

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Question 14

Calculate Ending Inventory using perpetual inventory systems.

Answer 14

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Question 15

Calculate gross profit using periodic inventory systems

Answer 15

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Question 16

Calculate cost of sales using periodic inventory systems

Answer 16

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Question 17

Calculate Ending Inventory using periodic inventory systems

Answer 17

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Question 18

Perpetual inventory systems

Answer 18

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Question 19

Periodic inventory systems

Answer 19

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Question 20

Compare cost of sales, E.I., Gross Profit using different inventory valuation methods

Answer 20

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Question 21

Describe the measurement of inventory at the lower of cost and net realisable value

Answer 21

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Question 22

Describe the financial statement presentation of and disclosures relating to inventories

Answer 22

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Question 23

Calc, interpret ratios uses to evaluate inventory management

Answer 23

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Question 24

Ratios used to evaluate inventory management

Answer 24

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