Merchandise Inventory, Cost of Goods Sold, and Gross Profit：库存商品，商品销售成本，毛利.ppt

Income Statements Balance Sheets Accounting for Inventory Gross Profit (Gross Margin) Computing Cost Learning Objective 1 Cost of Goods Sold Model How Much InventoryShould Be Purchased? Learning Objective 2 Inventory Accounting Systems Recording Transactionsin the Perpetual System Recording Transactionsin the Perpetual System Recording Transactionsand the T-Accounts Recording Transactionsand the T-Accounts Recording Transactionsand the T-Accounts Reporting in theFinancial Statements Reporting in theFinancial Statements Learning Objective 3 What Goes Into Inventory Cost? Illustrative Data Specific Unit Cost Weighted-Average First-In, First-Out First-In, First-Out Last-In, First-Out Last-In, First-Out Income Effects ofInventory Methods Income Effects ofInventory Methods Income Effects ofInventory Methods Income Effects – InventoryCosts Are Increasing Income Effects – InventoryCosts Are Decreasing Learning Objective 4 The Tax Advantage of LIFO Use of the VariousInventory Methods Comparison of Inventory Methods International Perspective Accounting Principlesand Inventories Accounting Principlesand Inventories Accounting Principlesand Inventories Accounting Principlesand Inventories Lower-of-Cost-or-Market Rule Objective 5 Effects of Inventory Errors Effects of Inventory Errors Ethical Considerations Learning Objective 6 Using the Financial Statementsfor Decision Making Gross Profit on $1 of Salesfor Two Merchandisers Estimating Inventory Estimating Inventory Estimating Inventory Estimating Inventory Reporting Inventory Transactions on the Statement of Cash Flows End of Chapter 6 Ending inventory, gross profit, and net income LIFO Weighted- average FIFO Identify the income and the tax effects of the inventory methods. Gross profit $460 $340 Operating expenses 260 260 Income before taxes $200 $ 80 Income tax expense (40%) $ 80 $ 32 FIFO LIFO The most attractive feature of LIFO is low income tax payments. LIFO liquidation oc