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treepple · 2020年02月22日

问一道题：NO.PZ201602060100000201

  1. CFA I
  2. FRA

* 问题详情，请 查看题干

问题如下：

1. Crux’s inventory turnover ratio computed as of 31 December 2009, 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 = $3,120 million – 13 million – (55 million – 72 million) = $3,124 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 reserve

Ending inventory 2009 (FIFO) = $480 + 55 = $535

Ending inventory 2008 (FIFO) = $465 + 72 = $537

Average inventory = ($535 + 537)/2 = $536

Therefore, adjusted inventory turnover ratio equals:

Inventory turnover ratio = COGS/Average inventory = $3,124/$536 = 5.83

此题中COGS里面要减去charges，Inventory用gross的计算，是因为题干里面的这句话吗？“adjust figures to assume no valuation allowance is recognized by any company.” 如果没有这句话，COGS是不是不用减charges，Inventory用net计算？

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1 个答案

Olive_品职助教 · 2020年02月23日

嗨，从没放弃的小努力你好：


是的同学，你的理解是正确的。


-------------------------------
努力的时光都是限量版，加油！


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NO.PZ201602060100000201问题如下 Crux’s inventory turnover ratio computeof 31 cember 2009, after the austments suggesteGroff, is closest to: A.5.67.B.5.83.C.6.13. B is correct.Crux’s austeinventory turnover ratio must computeusing cost of goo sol(COGS) unr FIFO anexclung charges for increases in valuation allowances.COGS (auste = COGS (LIFO metho – Charges incluin cost of goo solfor inventory write-wns – Change in LIFO reserve = $3,120 million – 13 million – (55 million – 72 million) = $3,124 million Note: Minus the change in LIFO reserve is equivalent to plus the crease in LIFO reserve. The austeinventory turnover ratio is computeusing average inventory unr FIFO.Enng inventory (FIFO) = Enng inventory (LIFO) + LIFO reserveEnng inventory 2009 (FIFO) = $480 + 55 = $535Enng inventory 2008 (FIFO) = $465 + 72 = $537Average inventory = ($535 + 537)/2 = $536Therefore, austeinventory turnover ratio equals:Inventory turnover ratio = COGS/Average inventory = $3,124/$536 = 5.83 考点LIFO、FIFO转换公式解析为了实现三个公司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 inventoryinventory的转换直接用公式Enng inventory (FIFO) = Enng inventory (LIFO) + LIFO reserveCOGS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preciation1、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valuationallowance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 incluin cost ofgoo solfor inventory write-wns- 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。 分母啥时候用平均值，啥时候直接用当年值？

2022-11-06 14:47 1 · 回答

如果题目给了要考虑valuation allowance， 是不是COGS要加上wirte-wns 并且 inventory 要用net计算？

2020-02-29 03:16 1 · 回答

什么叫net inventory？为什么用gross 不用net

2020-02-22 16:18 1 · 回答

 – Charges incluin cost of goo solfor inventory write-wns不是很理解 Enng inventory 2009 (FIFO) = $480 + 55 = $535 这里的480是gross inventory,为何不用net inventory?

2020-02-15 22:52 1 · 回答