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 millionNote: 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 = USD536Therefore, adjusted inventory turnover ratio equals:
Inventory turnover ratio = COGS/Average inventory = USD3,124/USD536 = 5.83LIFO FIFO调整没有明确删除,那liquidation还有么,讲课时没有提到reserve 与liquidation相关知识点