reporting and analyzing inventory

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1、CHAPTER6JamesPorter/WorkbookStock/GettyImages,Inc.●✓TheNavigatorREPORTING•ScanLearningObjectives•ReadFeatureStoryANDANALYZING•ScanPreview•ReadTextandAnswerDoit!p.287p.294p.299p.301INVENTORY•WorkUsingtheDecisionToolkitLEARNINGOBJECTIVES•ReviewSummaryofLearningObjectivesAfterstudyingthischapter,yoush

2、ouldbeableto:•WorkComprehensiveDoit!p.3101Determinehowtoclassifyinventoryandinventoryquantities.•AnswerSelf-TestQuestions2Explainthebasisofaccountingforinventoriesandapplytheinventory•CompleteAssignmentscostflowmethodsunderaperiodicinventorysystem.•GotoWileyPLUSforpracticeand3Explainthefinancialstate

3、mentandtaxeffectsofeachoftheinventorytutorialscostflowassumptions.4Explainthelower-of-cost-or-marketbasisofaccountingforinventories.ReadALookatIFRSp.3315Computeandinterprettheinventoryturnover.6DescribetheLIFOreserveandexplainitsimportanceforcomparingresultsofdifferentcompanies.●✔TheNavigator282Feat

4、ureStoryLet’stalkinventory—big,bulldozer-sizeinventory.60%theamountofinventorythecompanypro-CaterpillarInc.istheworld’slargestmanufacturercessedatanyonetime.Italsoreducedbyanofconstructionandminingequipment,dieselincredible75%thetimeittakestomanufactureandnaturalgasengines,andindustrialgastur-apart

5、.bines.Itsellsitsproductsinover200countries,Second,CaterpillardramaticallyimprovedmakingitoneofthemostsuccessfulU.S.export-itspartsdistributionsystem.Itshipsmorethaners.Morethan70%ofitsproductiveassetsare100,000itemsdailyfromits23distributionlocateddomestically,andnearly50%ofitssalescentersstrategi

6、callylocatedaroundtheworldareforeign.(10millionsquarefeetofwarehousespace—Inthepast,Caterpillar’sremember,we’retalkingbull-profitabilitysuffered,buttodayit“WHEREISdozers).Thecompanycanvirtu-isverysuccessful.AbigpartofallyguaranteethatitcangetanythisturnaroundcanbeattributedTHATSPAREparttoanywherein

7、theworldtoeffectivemanagementofitsBULLDOZERwithin24hours.inventory.Imaginewhatabull-Afterthesechanges,Cater-BLADE?”dozercosts.Nowimaginewhatpillarhadrecordexports,profits,itcostsCaterpillartohavetooandreven