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CHAPTER 6 Inventories ASSIGNMENT CLASSIFICATION TABLE Study Objectives||Questions||BriefExercises||Do It!||Exercises||AProblems||BProblems| ||||||||||||| 1. secern the steps in determining stemma quantities.||1, 2, 3, 4, 5, 6||1||1||1, 2||1A||1B| ||||||||||||| 2. condone the business relationship for inventories and take hold the stock-taking appeal die hard methods.||7, 8, 9, 10, 19||2, 3, 4||2||3, 4, 5, 6, 7, 8||2A, 3A, 4A, 5A, 6A, 7A||2B, 3B, 4B, 5B, 6B, 7B| ||||||||||||| 3.Explain the financial effects of the armory comprise flow assumptions.||11, 12||5, 6||||3, 6, 7, 8||2A, 3A, 4A, 5A, 6A, 7A||2B, 3B, 4B, 5B, 6B, 7B| ||||||||||||| 4.Explain the lower-of- comprise-or-market basis of accounting for inventories.||13, 14, 15||7||3||9, 10||||| ||||||||||||| 5.Indicate the effects of ancestry errors on the financial statements.||16||8||3||11, 12||||| ||||||||||||| 6.Compute and interpret the inventory turnover ratio.||17, 18||9||4||13, 14||||| |||| ||||||||| *7.Apply the inventory cost flow methods to perpetual inventory records.||20, 21||10||||15, 16, 17||8A, 9A||8B, 9B| ||||||||||||| *8.Describe the two methods of estimating inventories.||22, 23, 24, 25||11, 12||||18, 19, 20||10A, 11A||10B, 11B| ||||||||||||| *Note:? solely asterisked Questions, Exercises, and Problems relate to corporeal contained in the appendices to the chapter. ASSIGNMENT CHARACTERISTICS TABLE ProblemNumber|| interpretation||DifficultyLevel||Time dish out (min.)| ||||||| 1A||Determine items and amounts to be recorded in inventory.||Moderate||1520| ||||||| 2A||Determine cost of goods sell and closing inventory utilise FIFO, LIFO, and average-cost with analysis.||Simple||3040| ||||||| 3A||Determine cost of goods sold and ending inventory using FIFO, LIFO, and average-cost with analysis.||Simple||3040| ||||||| 4A||Compute ending inventory, countersink income statements, and answer questions using FIFO and LIFO.||Moderate||3040| ||||||| 5A||Calculate ending inventory, co! st...If you want to get a well(p) essay, order it on our website: OrderEssay.net

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