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L1 29 Investories

This class was created by Brainscape user Steven Popovic. Visit their profile to learn more about the creator.

By: Steven Popovic
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Decks in this class (9)

a distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred;
Costs included in inventories,
Costs recognized as expenses in t...,
Distinguish between costs include...
24  cards
B describe different inventory valuation methods (cost formulas);
describe different inventory valuation methods (cost formulas)
13  cards
A
Distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred.
5  cards
C calculate cost of sales and ending inventory using different inventory valuation methods and explain the effect of the inventory valuation method choice on gross profit;
"calculate cost of sales and ending inventory using different inventory valuation methods and explain the effect of the inventory valuation method choice on gross profit;"
3  cards
D, E e. compare cost of sales, ending inventory, and gross profit using different inventory valuation methods;
calculate and compare cost of sales, gross profit, and ending inventory using perpetual and periodic inventory systems "record changes to inventory " and "compare cost of sales, ending inventory, and gross profit using different inventory valuation methods;"
8  cards
F describe the measurement of inventory at the lower of cost and net realisable value;
describe the measurement of inventory at the lower of cost and net realisable value; Measurement of inventory value (due to financial risk from holding inventory - spoilage, obsolescence, drop in selling price)
9  cards
G describe the financial statement presentation of and disclosures relating to inventories;
describe the financial statement presentation of and disclosures relating to inventories;
3  cards
H calculate and interpret ratios used to evaluate inventory management.
calculate and interpret ratios used to evaluate inventory management. 'Evaluation of Inventory Management'
14  cards
d calculate and compare cost of sales, gross profit, and ending inventory using perpetual and periodic inventory systems;
0  cards

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L1 29 Investories

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