재무관리 재고자산평가 사례 연구(영문)

재무관리 재고자산평가 사례 연구(영문) [재무관리] 재고자산평가 사례 연구(영문).docx 목차 CASE 4 Part 1: A. Describe the cost flow assumptions used in average cost, FIFO and LIFO methods of inventory valuation. B. Identify the effects on both the balance sheet and the income statement of using the LIFO method instead of the FIFO method for inventory costing purposes over a substantial time period when purchase prices of inventory items are rising. C. Discuss the specific advantages and disadvantages of using LIFO methods so that you understand why LIFO is no t allowed under IFRS (International Financial Reporting Standards). Part 2: TJ International A. How much world income before taxes have been if FIFO costing had been used to value all inventories? B. If the income tax rate is 46.6%, what would income tax have been if FIFO costing had been used to value all inventories? In your opinion, is this difference in net income between the two methods material? Explain. C. Does the use of a different costing system for different types of inventory mean that there is a different physical flow goods among the different types of inventory? Explain. Reference 본문 CASE 4 Part 1: A. Describe the cost flow assumptions used in average cost, FIFO and LIFO methods of inventory valuation. -The average cost method assumes cost of goods sold and ending inventory consist of a mixture of all the goods available for sale. The average unit cost applied to goods sold or to ending inventory is not simply an average of the various unit costs of purchases during the period but an average unit cost weighted by the number of units acquired at the various unit costs. -FIFO (first-in; first-out) follows the actual flow of goods. Under FIFO, the items purchased first are assumed to have been sold first.Goods purchased at the end of the accounting period remain in ending inventory.This cost flow assumption is usually follows the normal actual movement of goods. -LIFO (last-in; first-out), Under LIFO the goods in inventory at the beginning of the period is assumed to remain in the ending inventory. LIFO requires significant record keeping and careful management of purchases.It also results in significantly understated inventory values (assets) if it has been used for a significant length of time and/or if there is significant inflation.However, it results in significant tax savings 본문내용 e cost flow assumptions used in average cost, FIFO and LIFO methods of inventory valuation. -The average cost method assumes cost of goods sold and ending inventory consist of a mixture of all the goods available for sale. The average unit cost applied to goods sold or to ending inventory is not simply an average of the various unit costs of purchases during the period but an average unit cost wei 참고문헌 -Financial Accounting IFRS Ver. -www.accountingtools.com/questions-answers