PPT-Reporting and Interpreting Cost of Goods Sold and Inventory

Chapter 7 McGrawHillIrwin 2009 The McGrawHill Companies Inc Inventory Costing Methods Total Dollar Amount of Goods Available for Sale Ending Inventory Cost of Goods Sold Inventory Costing Method. What is the N9G Tool Box?. The N9G tool box . provides . the field . with helpful . information on . wide range of subjects.. The . tool . box . provides information . to . CNIC . Regions & Installations; keeping them “. Inventories and Cost of Goods Sold. PowerPoint Authors:. . Brandy Mackintosh. Lindsay . Heiser. Learning Objective 7-1. Describe the issues in managing different types of inventory.. Inventory Management Decisions. Chapter Eighteen. Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.. McGraw-Hill/Irwin. List the key assumptions of each inventory method.. Calculate the cost of ending inventory and cost of goods sold for each inventory method.. Inventories and Cost of Goods Sold. PowerPoint Authors:. . Brandy Mackintosh. Lindsay . Heiser. Learning Objective 7-1. Describe the issues in managing different types of inventory.. Inventory Management Decisions. Christian . Twigg-Flesner. Professor of Commercial Law, University of Hull. Email: . c.twigg-flesner@hull.ac.uk. . Overview. A few introductory . words. Two models for a “conformity with the contract” requirement. 6. Learning Objectives. Discuss how to classify . and determine . inventory.. Apply inventory cost . flow methods and . discuss their . financial . effects.. Indicate the effects of . inventory errors . Terms of Sale. MERCHANDISING ACCOUNTS. To calculate net income (or net loss) for a merchandising company, subtract COGS and expenses from revenue:. Net Sales. COGS. = . Gross Profit. Expenses. = Net Income (or NL). IFRS 2nd . Edition. Kieso, Weygandt, and Warfield. . 8. Understand . the items to include as inventory . cost.. Describe . and compare the methods used to price inventories.. After studying this chapter, you should be able to:. PowerPoint . Author:. . Brandy Mackintosh, CA. . Learning Objective 6-1. Distinguish . between service and merchandising . operations.. Operating Cycles. Operating Cycles. (in thousands). (in millions). Discuss how to classify and determine inventory.. Apply inventory cost flow methods and discuss their financial effects.. Indicate the effects of inventory errors on the financial statements.. 3. Explain the statement presentation and analysis of inventory..  .  .  .  .  .  .  .  .  .  .  .  . Units Acquired, at Cost.  . Units Sold, at Retail.  . 1-Jan. Beg. . inventory. 140. units @. $ 7.00 . =. $ 980 .  .  .  .  .  . 10-Jan. PowerPoint #3. Understand Inventory Control Methods. Help businesses account for . Ending Inventory. and help determine . Cost of Goods Sold. If Inventory consists of . large, identifiable items. , it is easy to compute the above.. 1. This Photo. by Unknown Author is licensed under . CC BY-SA. Unrealised profit: Closing inventory. Reminder of the principle from FIAC6212. Example. P (parent) sold inventory to S (subsidiary) at cost plus 20%. . Goods that will be used or consumed in the production of goods or services to be sold.. 6-. 2. Supplies. Tangible items that will be consumed in the course of normal operations.. E.g., office and janitorial supplies, lubricants, repair parts..