TAILIEUCHUNG - Inventories: Measurement8Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights

Those assets that a company: 1. Intends to sell in the normal course of business. 2. Has in production (work in process) for future sale. 3. Uses currently in the production of goods to be sold (raw materials). 8-3 Types of Inventories Types of Inventory Merchandise Inventory Goods acquired for resale Manufacturing Inventory •Raw Materials •Work-in-Process •Finished Goods 1 .8-4 Inventory Cost Flows Raw Materials Work in Process Finished Goods | Copyright 2007 by The McGraw-Hill Companies Inc. All rights reserved. Inventories Measurement 8 8-2 Inventory Those assets that a company 1. Intends to sell in the normal course of business. 2. Has in production work in process for future sale. 3. Uses currently in the production of goods to be sold raw materials . 8-3 Types of Inventories Types of Inventory Merchandise Inventory Goods acquired for resale Manufacturing Inventory Raw Materials Work-in-Process Finished Goods 1 8-4 Cost of Good Sold - XX I Inventory Cost Flows Raw Work in Finished Materials Process Goods 1 XX I XX 4 -- XX XX 7 ------- XX XX 8 Direct Labor 2 XX I XX 5 ---- Manufacturing Overhead 3 XX I XX 6 ----- 1 Raw materials purchased 2 Direct labor incurred 3 Manufacturing overhead incurred 4 Raw materials used 5 Direct labor applied 6 Manufacturing overhead applied 7 Work in process transferred to finished goods 8 Finished goods sold 8-5 Learning Objective 8-6 Inventory Methods Two accounting systems are used to record transactions involving inventory I Perpetual Inventory System --------1 Periodic Inventory System The inventory account is continuously updated as purchases and sales are made. The inventory account is adjusted at the end of a reporting cycle. 2 8-7 Perpetual Inventory System Matrix Inc. purchases on account 600 000 of merchandise for resale to customers. GENERAL JOURNAL Date Description Debit Credit 2006 Inventory 600 000 Accounts Payable 600 000 Returns of inventory are credited to the inventory account. Discounts on inventory purchases can be recorded using the gross or net method. 8-8 Perpetual Inventory System Matrix Inc. sold on account inventory with a retail price of 820 000 and a cost basis of 540 000 to a customer. GENERAL JOURNAL Date Description Debit Credit 2006 Accounts Receivable 820 000 Sales 820 000 Cost of Goods Sold 540 000 Inventory 540 000 8-9 Periodic Cost of Goods Sold Equation Beginning Inventory Net Purchases Cost of Goods Available for Sale - .

• Quản lý dự án
• quality management
• project analysis
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• quality management
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• Management Accountant
• Control of quality
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