Exam (elaborations)
Chapter 8 Inventories, Additional Valuation Issues
- Course
- Intermediate Accounting
- Institution
- University Of Wisconsin - Madison
Chapter 8 Inventories, Additional Valuation Issues
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CHAPTER 8Inventories: Additional Valuation Issues
Assignment Classification Table (By Topic)
Brief Concepts
Topics Questions Exercises Exercises Problems for Analysis
1. Lower-of-cost-or-net 1, 2, 3, 4, 5 1, 2, 3 1, 2, 3, 4, 1, 2, 3, 11 1, 2, 3, 4, 6
realizable value 5, 6
2. Lower-of-cost-or-market. 6, 7 4, 5 7, 8 4, 5 6
3. Inventory accounting 8, 9 6 9, 10
changes; relative sales
value method; net
realizable value.
4. Purchase commitments. 10 7, 8 11, 12 11 7
5. Gross profit method. 11, 12, 13, 9 13, 14, 15, 6, 7
14 16, 17, 18,
19
6. Retail inventory method. 15, 16, 17 10 20, 21, 22, 8, 9, 10 5, 6
7. Presentation and analysis. 18, 19 11 23 11
*8. LIFO retail. 20 12 24, 25 13, 14
*9. Dollar-value LIFO retail. 13 26, 27, 28, 12
29
*10. Special LIFO problems. 30 15
*This material is discussed in an Appendix to the chapter.
Copyright © 2022 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only) 14-1-543
,Codification Research Case (Continued)
Assignment Classification Table (By Learning Objective)
Learning Objectives Brief Concepts
Questions Exercises Exercises Problems for Analysis
1. Describe and apply 1, 2, 3, 4, 5 1, 2, 3 1, 2, 3, 1, 2, 3, 11 1, 2, 3, 4, 6
the lower-of-cost-or 4, 5, 6
net realizable value
rule.
2. Describe and apply 6, 7 4, 5 7, 8 4, 5 6
the lower-of-cost-or-
market rule.
3. Identify other inventory 8, 9, 10 6, 7, 8 9, 10, 11, 12 11 7
valuation issues
4. Determine ending 11, 12, 13, 9 13, 14, 15, 6, 7
inventory by applying 14 16, 17, 18, 19
the gross profit
method.
5. Determine ending 15, 16, 17 10 20, 21, 22 8, 9, 10 5, 6
inventory by applying
the retail inventory
method.
6. Explain how to report 18, 19 11 23 11
and analyze inventory.
*7. Determine ending 20 12, 13 24, 25, 26, 12, 13, 14,
inventory by applying 27, 28, 29 30 15
the LIFO retail
methods.
*This material is discussed in an Appendix to the chapter.
14-1-544 Copyright © 2022 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only)
,
, Assignment Characteristics Table
Level of Time
Item Description Difficulty (minutes)
E8.1 LCNRV. Simple 15–20
E8.2 LCNRV. Simple 10–15
E8.3 LCNRV. Simple 15–20
E8.4 LCNRV—journal entries. Simple 10–15
E8.5 LCNRV. Moderate 20–25
E8.6 LCNRV—error effect. Simple 10–15
E8.7 Lower-of-cost-or-market Simple 15-20
E8.8 Lower-of-cost-or-market--journal entries. Simple 10-15
E8.9 Relative sales value method. Simple 15–20
E8.10 Relative sales value method. Simple 12–17
E8.11 Purchase commitments. Simple 5–10
E8.12 Purchase commitments. Simple 15–20
E8.13 Gross profit method. Simple 8–13
E8.14 Gross profit method. Simple 10–15
E8.15 Gross profit method. Simple 15–20
E8.16 Gross profit method. Moderate 15–20
E8.17 Gross profit method. Simple 10–15
E8.18 Gross profit method. Simple 15–20
E8.19 Gross profit method. Moderate 20–25
E8.20 Retail inventory method. Moderate 20–25
E8.21 Retail inventory method. Simple 12–17
E8.22 Retail inventory method. Simple 20–25
E8.23 Analysis of inventories. Simple 10–15
*E8.24 Retail inventory method—conventional and LIFO. Moderate 25–35
*E8.25 Retail inventory method—conventional and LIFO. Moderate 15–20
*E8.26 Dollar-value LIFO retail. Simple 10–15
*E8.27 Dollar-value LIFO retail. Simple 5–10
*E8.28 Conventional retail and dollar-value LIFO retail. Moderate 20–25
*E8.29 Dollar-value LIFO retail. Moderate 20–25
*E8.30 Change to LIFO retail. Simple 5-10
P8.1 LCNRV. Simple 10–15
P8.2 LCNRV. Moderate 25–30
P8.3 LCNRV—cost-of-good-sold and loss. Moderate 30–35
P8.4 Lower-of-cost-or-market Moderate 25-30
P8.5 Lower-of-cost-or-market. Moderate 30-40
P8.6 Gross profit method. Moderate 20–30
P8.7 Gross profit method. Complex 40–45
P8.8 Retail inventory method. Moderate 20–30
P8.9 Retail inventory method. Moderate 20–30
14-1-544 Copyright © 2022 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only)
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