NO.PZ202308140300007601
问题如下：
Robert Groff, an equity analyst, is preparing a report on Crux Corp. As part of his report, Groff makes a comparative financial analysis between Crux and its two main competitors, Rolby Corp. and Mikko Inc. Crux and Mikko report under US GAAP and Rolby reports under IFRS.
Groff gathers information on Crux, Rolby, and Mikko. The relevant financial information on the three companies, and on the industry, is provided in Exhibit 1.
Exhibit 1:
Selected Financial Information (millions of US dollars)
* This does not match the change in the inventory valuation allowance because the valuation allowance is reduced to reflect the valuation allowance attached to items sold and increased for additional necessary write-downs.
To compare the financial performance of the three companies, Groff decides to convert LIFO figures into FIFO figures, and adjust figures to assume no valuation allowance is recognized by any company.
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 = 5.83老师好，请问
“COGS (adjusted) = COGS (LIFO method) – Charges included in cost of goods sold for inventory write-downs – Change in LIFO reserve”
以及
“ending inventory FIFO = ending inventory LIFO + LIFO reserve”
还在今年的考纲里吗？
