InvUnit 8 Overview
Inventories - Part 1
This unit covers Chapter 6 which includes an overview of the controls needed for inventories, explanation of the three inventory cost flow assumptions (FIFO, LIFO and Average Cost methods) and using these inventory costing methods under a perpetual inventory system Chapter 6: "Inventories"
Chapter 6: "Inventories" describes how companies maintain control over their inventories and account for the inventory costs as inventories are purchased and sold. Key Terms
This course uses terminology that may be unfamiliar to you. Key terms are provided for you in each chapter of your text and you can access them in the reading resources area. Please review the key terms in each chapter. In this Web Field Trip, you will research some information about the inventories of two major companies that sell merchandise to customers online: Amazon®.com and Dell® Inc. Amazon http://www.amazon.com/ir
Click on Annual Reports and Proxies, and then the most recent Annual Report. Then click on Financial Statements and Supplementary Data and find Amazon's balance sheet and the Notes to the financial statements. Determine how Amazon accounts for its inventories, and calculate the percentage of inventory in relation to total assets. Dell Inc. http://www.dell.com/Learn/us/en/uscorp1/about-dell-investor?c=us&l=en&s=corp Click Financial Reportings and then click on the 10-K Filings tab. You will see several options for viewing reports--the PDF will be easiest to navigate. Download the most recent Form 10-K (Annual Report) and click on Financial Statements and Supplementary Data in the menu on the left. Find Dell's balance sheet and the Notes to the financial statements. Determine how Dell accounts for its inventories, and calculate the percentage of inventory in relation to total assets. Discussion Topic
In your Web Field Trip, you were asked to look at the balance sheets and the notes to the financial statements of Amazon.com and Dell Inc....
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