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哈里ZPF · 2024年03月31日

这题里COGS的调整还在考纲里吗？

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* 问题详情，请 查看题干

NO.PZ202308140300007601

问题如下：

Q. Crux’s inventory turnover ratio computed as of 31 December 2018, after the adjustments suggested by Groff, is closest to:

选项：

A.5.67. B.5.83. C.6.13.

解释：

B is correct. Crux’s adjusted inventory turnover ratio must be computed using cost of goods sold (COGS) under FIFO and excluding charges for increases in valuation allowances.

COGS (adjusted) = COGS (LIFO method) – Charges included in cost of goods sold for inventory write-downs – Change in LIFO reserve= USD3,120 million – 13 million – (55 million – 72 million)= USD3,124 million

Note: Minus the change in LIFO reserve is equivalent to plus the decrease in LIFO reserve. The adjusted inventory turnover ratio is computed using average inventory under FIFO.

Ending inventory (FIFO) = Ending inventory (LIFO) + LIFO reserveEnding inventory 2018 (FIFO) = USD480 + 55 = USD535Ending inventory 2017 (FIFO) = USD465 + 72 = USD537Average inventory = (USD535 + 537)/2 = USD536

Therefore, adjusted inventory turnover ratio equals:

Inventory turnover ratio = COGS/Average inventory = USD3,124/USD536 = 5.83

RT，Inventory的调整计算可以理解，COGS的调整计算没看明白

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1 个答案

lynn_品职助教 · 2024年04月01日

嗨，努力学习的PZer你好：


考纲中对inventory 的计算要求简单了很多，这道题目是没有明确删除，同学可以稍微看一下


这道题考察的是LIFO、FIFO转换公式

为了实现三个公司ratio的可比性，Groff建议把LIFO转成FIFO，三个公司Crux和Mikko都是用LIFO，本题是让计算Crux公司转换为FIFO之后的inventory turnover ratio。


inventory turnover ratio=COGS/average inventory

  • inventory的转换直接用公式：Ending inventory (FIFO) = Ending inventory (LIFO) + LIFO reserve
  • COGS转换公式：COGSF = COGSL – Δ LIFO reserve


本题还有一个条件：调整的时候假设没有valuation allowance。

这里的valuation allowance是存货的一个备抵账户，其原理类似于depreciation：

1、产生valuation allowance的时候要增加valuation allowance，存货的net value就相应减少。

2、同时allowance要体现在COGS中，在COGS里加上相应的金额，以减少Net income。


如果假设没有这个备抵账户，那么存货减少的部分就要加回，我们这里不需要手动加回，因为题目给了存货gross的金额和net 的金额，其中net是扣掉了valuation allowance的，gross是没有扣减的，我们用gross inventory对应的数字来套公式即可。

但COGS要手动调整一下，有valuation allowance的话COGS里就包括这部分，如果没有的话我们就要从COGS里减掉之前计提的allowance，所以COGS转换公式就变成：

COGSF = COGSL –Charges included in cost of goods sold for inventory write-downs- Δ LIFO reserve

注意，如果题目没有提到assume no valuation allowance，那么直接用COGSF = COGSL – Δ LIFO reserve公式转换即可。

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