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Inventories

Inventories

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Published by imad rehman

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Categories:Types, Business/Law
Published by: imad rehman on Jan 23, 2012
Copyright:Attribution Non-commercial

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03/09/2013

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Chapter Chapter 
99
 Inventories Inventories
Accounting,
21
st
EditionWarren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of AccountingPepperdine University © Copyright 2004 South-Western, a divisionof Thomson Learning. All rights reserved.
Task Force Image Gallery 
clip art included in thiselectronic presentation is used with the permission of NVTech Inc.
 
 Some of the action has been automated,so click the mouse when you see thislightning bolt in the lower right-handcorner of the screen. You can point andclick anywhere on the screen.
 
1.Summarize and provide examples of internalcontrol procedures that apply to inventories.2.Describe the effect of inventory errors on thefinancial statement.3.Describe the three inventory cost flowassumptions and how they impact the incomestatement and balance sheet.4.Compute the cost of inventory under theperpetual inventory system, using thefollowing cost methods: first-in, first-out; last-in, first-out; average cost.
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ectives
 
 
 After studying this After studying thischapter, you should chapter, you should be able to:be able to:

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