Solutions Chapter 9

Inventories Additional Valuation Issues ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) TopicsQuestionsBrief ExercisesExercisesProblems Concepts for Analysis1.Lower-of-cost-or-market.1, 2, 3, 4, 5, 61, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 101, 2, 3, 52.Inventory accounting changes relative sales value method net real-izable value.7, 847, 83.Purchase commitments.95, 69, 10964.Gross profit method.10, 11, 12, 13711, 12, 13, 14, 15, 16, 174, 55.Retail inventory method.14, 15, 16818, 19, 20, 22, 23, 266, 7, 8, 10, 114, 56.Presentation and analysis.17, 1892197.LIFO retail.191022, 2312, 13, 148.Dollar-value LIFO retail.1124, 25, 26, 2711, 139.Special LIFO problems.2813, 14 This material is discussed in an Appendix to the chapter. ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning ObjectivesQuestionsBrief ExercisesExercisesProblemsConcepts for Analysis1. Describe and apply the lower-of-cost-or-market rule.1, 2, 3, 41, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 10CA9-1, CA9-2, CA9-3, CA9-52. Explain when companies value inventories at net realizable value.5, 6, 71, 2, 31, 2, 3, 4, 5, 61, 2, 3, 9, 103. Explain when companies use the relative sales value method to value inventories.847, 84. Discuss accounting issues related to purchase commitments.95, 69, 109CA9-65. Determine ending inventory by applying the gross profit method.10, 11, 12, 13711, 12, 13, 14, 15, 16, 174, 56. Determine ending inventory by applying the retail inventory method.14, 15, 16818, 19, 206, 7, 8CA9-4, CA9-57. Explain how to report and analyze inventory.17, 1892198. Determine ending inventory by applying the LIFO retail methods.1910, 1122, 23, 24, 25, 26, 27, 2811, 12, 13, 14 This material is discussed in an Appendix to the chapter. ASSIGNMENT CHARACTERISTICS TABLE ItemDescriptionLevel of DifficultyTime (minutes) E9-1Lower-of-cost-or-market.Simple1520 E9-2Lower-of-cost-or-market.Simple 1015 E9-3Lower-of-cost-or-market.Simple1520 E9-4Lower-of-cost-or-marketjournal entries.Simple1015