Inventory Flashcards
1
Q
What are the steps to solve for Dollar Lifo value?
A
2
Q
What is the difference between lower of cost or market or NRV?
A
3
Q
What are the effects in ending inventory with COGS, GM, Net income and retained earnings by either being understated or overstated?
A
4
Q
What are the items that make up the
cost of inventory?
A
5
Q
What are the steps for Dollar-LIFO method?
A
6
Q
What are the steps for the weighted average cost collections?
A
7
Q
What are the two inventory system?
A
8
Q
How do you solve for the gross profit (margin) method?
A
9
Q
What is the difference between consignor vs consignee?
A
10
Q
How to solve for the difference between Perpetual and periodic inventory system?
A
11
Q
How do you solve for conventional retail inventory method?
A
