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Inventory Methods...
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Inventory Methods
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Converting from one inventory accounting method into another to compare apple to apple
Hi! Dean Choi mentioned that given different companies use different inventory accounting methods (LIFO, FIFO, average), it is more accurate to convert all the items of the companies you are looking at to calculate a ratio into the same accounting method e.g. calculating inventory turnover ratio for...
Hi! Dean Choi mentioned that given different companies use different inventory accounting methods (LIFO, FIFO, average), it is more accurate to convert all the items of the companies you are looking at to calculate a ratio into the same accounting method e.g. calculating inventory turnover ratio for company A and B which use LIFO and average method. Would you care to walk me through an example?
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by Elvina J.
added 6 years ago
Inventory Exercise 1 page 229
Dont you need to restate CoGS too changing for LIFO to FIFO in computing inventory turnover ratio?
FIFO vs. LIFO cash flow
Page 220: Why does the Cash Flow using FIFO is lower than the cash flow using LIFO, if Cash Flow from Operations starts with a larger Net Income number and Net Income is an after tax number?
Inventory costing method
Slide 219: The text in slide 219, says that in the absence of income taxes, there is no difference in cash flow by either inventory costing method.
I understand that Cash Flow Statement is based on cash basis and the Income Statement is based on accrual basis but if by using different inventory ...
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