CHAPTER 8 Accounting for Inventories
CHAPTER 8 Accounting for Inventories ASSIGNMENT CLASSIFICATION TABLE Brief Topics Questions Exercises Exercises Problems Cases 1. Inventory accounts; 1, 2, 3, 4, 5, 1, 3 1, 2, 3, 4, 5 1 1, 2, 3, 4 determining quantities, 6 costs, and items to be included in inventory; the inventory equation; balance sheet disclosure. 2. Perpetual vs. periodic. 2 7, 8, 9, 12 2, 3, 4 3. Manufacturing costs. 6 4. Flow assumptions. 7, 8, 9, 11, 4, 5, 6 8, 9, 10, 11, 2, 3, 4, 5 5, 6, 7, 8, 13 12, 13, 14, 9 15, 16, 17 5. Inventory accounting 5, 7 5, 6, 9 changes. 6. Dollar-value LIFO 10, 12 7, 8 17, 18, 19, 6, 8 7, 8 methods. 20 7. Lower of cost or market. 14, 15, 16, 9, 10 21, 22, 23 9, 10, 11 10, 11 17 8. Presentation and 18, 19 11 24 11 analysis. *9. Gross profit method. 20, 21 12 25 12 12 *This material is presented in the appendix. 8-1 ASSIGNMENT CHARACTERISTICS TABLE Level of Time Item Description Difficulty (minutes) E8-1 Inventoriable costs. Moderate 15-20 E8-2 Inventoriable costs. Moderate 10-15 E8-3 Inventoriable costs Simple 10-15 E8-4 Inventoriable costs. Simple 10-15 E8-5 Determining merchandise amounts. Simple 10-20 E8-6 Financial statement presentation of manufacturing Moderate 20-25 amounts E8-7 Periodic versus perpetual entries. Moderate 15-25 E8-8 FIFO and LIFO—periodic and perpetual. Moderate 15-20 E8-9 FIFO, LIFO and average cost determination. Moderate 20-25 E8-10 FIFO, LIFO, average cost inventory.
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