Solutions Chapter 9

Topics: Revenue, Inventory, Profit margin Pages: 40 (22174 words) Published: October 24, 2014
Inventories Additional Valuation Issues ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) TopicsQuestionsBrief ExercisesExercisesProblems Concepts for Analysis1.Lower-of-cost-or-market.1, 2, 3, 4, 5, 61, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 101, 2, 3, 52.Inventory accounting changes relative sales value method net real-izable value.7, 847, 83.Purchase commitments.95, 69, 10964.Gross profit method.10, 11, 12, 13711, 12, 13, 14, 15, 16, 174, 55.Retail inventory method.14, 15, 16818, 19, 20, 22, 23, 266, 7, 8, 10, 114, 56.Presentation and analysis.17, 1892197.LIFO retail.191022, 2312, 13, 148.Dollar-value LIFO retail.1124, 25, 26, 2711, 139.Special LIFO problems.2813, 14 This material is discussed in an Appendix to the chapter. ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning ObjectivesQuestionsBrief ExercisesExercisesProblemsConcepts for Analysis1.Describe and apply the lower-of-cost-or-market rule.1, 2, 3, 41, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 10CA9-1, CA9-2, CA9-3, CA9-52.Explain when companies value inventories at net realizable value.5, 6, 71, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 103.Explain when companies use the relative sales value method to value inventories.847, 84.Discuss accounting issues related to purchase commitments.95, 69, 109CA9-65.Determine ending inventory by applying the gross profit method.10, 11, 12, 13711, 12, 13, 14, 15, 16, 174, 56.Determine ending inventory by applying the retail inventory method.14, 15, 16818, 19, 206, 7, 8CA9-4, CA9-57.Explain how to report and analyze inventory.17, 1892198.Determine ending inventory by applying the LIFO retail methods.1910, 1122, 23, 24, 25, 26, 27, 2811, 12, 13, 14 This material is discussed in an Appendix to the chapter. ASSIGNMENT CHARACTERISTICS TABLE ItemDescriptionLevel of DifficultyTime (minutes) E9-1Lower-of-cost-or-market.Simple1520 E9-2Lower-of-cost-or-market.Simple 1015 E9-3Lower-of-cost-or-market.Simple1520 E9-4Lower-of-cost-or-marketjournal entries.Simple1015 E9-5Lower-of-cost-or-marketvaluation account.Moderate2025 E9-6Lower-of-cost-or-marketerror effect.Simple1015 E9-7Relative sales value method.Simple1520 E9-8Relative sales value method.Simple1217 E9-9Purchase commitments.Simple0510 E9-10Purchase commitments.Simple1520 E9-11Gross profit method.Simple813 E9-12Gross profit method.Simple1015 E9-13Gross profit method.Simple1520 E9-14Gross profit method.Moderate 1520 E9-15Gross profit method.Simple1015 E9-16Gross profit method.Simple1520 E9-17Gross profit method.Moderate2025 E9-18Retail inventory method.Moderate2025 E9-19Retail inventory method.Simple1217 E9-20Retail inventory method.Simple2025 E9-21Analysis of inventories.Simple1015E9-22Retail inventory methodconventional and LIFO.Moderate 2535E9-23Retail inventory methodconventional and LIFO.Moderate1520E9-24Dollar-value LIFO retail.Simple1015E9-25Dollar-value LIFO retail.Simple510E9-26Conventional retail and dollar-value LIFO retail.Moderate2025E9-27Dollar-value LIFO retail.Moderate2025E9-28Change to LIFO retail.Simple1015 P9-1Lower-of-cost-or-market.Simple1015 P9-2Lower-of-cost-or-market.Moderate2530 P9-3Entries for lower-of-cost-or-marketcost-of-good-sold and loss.Moderate3035 P9-4Gross profit method.Moderate2030 P9-5Gross profit method.Complex4045 P9-6Retail inventory method.Moderate2030 P9-7Retail inventory method.Moderate2030 ASSIGNMENT CHARACTERISTICS TABLE (Continued) ItemDescriptionLevel of DifficultyTime (minutes) P9-8Retail inventory method.Moderate2030 P9-9Statement and note disclosure, LCM, and purchase commitment.Moderate3040 P9-10Lower-of-cost-or-market.Moderate3040P9-11Conventional and dollar-value LIFO retail.Moderate3035P9-12Retail, LIFO retail, and inventory shortage.Moderate3040P9-13Change to LIFO retail.Moderate3040P9-14Change to LIFO retail dollar-value LIFO retail.Complex4050 CA9-1Lower-of-cost-or-market.Moderate1525 CA9-2Lower-of-cost-or-market.Moderate2030 CA9-3Lower-of-cost-or-market.Moderate1520 CA9-4Retail inventory method.Moderate2530 CA9-5Cost...
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