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Week 5
Accounting Management 2 (Agile)
Overview:
For this week, your group will expense a month of inventory of three companies. Therefore, you
are expected to complete the following within Week 5:

1. Determine the cost of inventory

2. Apply the di erent methods of expensing inventory
3. Compute the ending inventories of Elder Wand, Resurrection Stone, and Invisibility Cloak

Then at the end of this week, you will be able to:

● Gain knowledge, speci cally:
○ Determine the cost of their Inventory.

● Develop skills in:

○ Planning, Level 3-4: Can DEVELOP, EXECUTE, and ADJUST a plan to produce a
school paper or project or entry level professional work output.
○ Time Management, Level 3-4: Can ORGANIZE, PRIORITIZE, and STAY ON TASK, to
meet planned goals/objectives.

This format is the same across all the learner guides that you will access for this course. Weekly
tasks and durations are speci ed to ensure that you complete your deliverables each week. You
can spend less or more time per task than the speci ed duration depending on your capability to
complete the work; however, be mindful of the output due dates.

Locate your class synchronous session link (e.g. A01 12AM-1 Sync Session) in the
Announcements section under the Course Introduction in the LMS.

Duration:
Six (6) hours
● FRAMING ACTIVITY [Session 9 - 30 mins]
● ACTIVITY: Expensing the Inventory [Session 9 & 10 - 300 mins]
● SYNTHESIS ACTIVITY [Session 10 - 30 mins]

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Week 5 Tasks:
1. Complete the Activity about Expensing the Inventory.
2. Write down your key takeaways for the week in the LMS.

Instructions:
ACTIVITY: Expensing the Inventory [Session 9 & 10 - 300 mins]

READ 1. Read through the instructions of the task.

ACTIVITY: Expensing the Inventory

2. Study the WIKI: Expensing Inventories to determine the cost of

inventory in accounting.

WATCH Watch carefully the following videos about the di erent methods of
expensing inventory:
VIDEO: Speci c Identi cation Method
VIDEO: FIFO Method
VIDEO: LIFO Method
VIDEO: Weighted Average Cost Flow Method
VIDEO: Average Cost Method

ANSWER 1. As a group, expense the inventory for the three companies following
the Inventory Method speci ed in the Activity Guide.

2. Complete the Inventory tab of your AM2 Workbook 2 with the

computation of the ending inventories.

3. Update the ACCOMPLISHMENT TRACKER so your facilitator can

monitor your progress.

This activity must be completed within Session 10 of Week 5.

CHECK Check your answers to the Ending Inventory against this ANSWER KEY:
Expensing Inventory.

If there are Ending Inventories that you were not able to compute correctly,
go back to your Resources and nd out how the correct answer is arrived
at.

Consult your facilitator if there is something you do not understand.

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Additional SAMPLE: Accounting Management 2
Resource TEMPLATE: AM2 Workbook 2
WIKI: Expensing Inventories

SYNTHESIS ACTIVITY [Session 10 - 30 mins]

DISCUSS Report some updates on your group’s inventory for Elder Wand,
Resurrection Stone, and Invisibility Cloak.

Additional In the LMS,

Resource 1. Post any questions you may have about this week's lesson in the
Speci c Questions Forum by starting a new thread.

2. Re ect on your key learnings/takeaways for this week by writing them

down in the Key Takeaways for the Week section.