美国CPA《财务会计与报告》例题（11）

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　　Types of inventories held for re-sale

　　Retail Inventory

　　Raw Materials Inventory

　　Work in Process Inventory

　　Finished Goods Inventory

　　Goods and materials to be included in inventory

　　Goods in Transit.F.O.B Shipping Point/F.O.B Destination

　　Sales with a right of return. “Can you reasonably estimate the return?”。If no，do not recognize revenue.If yes，recognize revenue and estimated allowance.

　　Consigned goods/Public warehouses/Sales with a mandatory buyback/Installment sales

　　Valuation of Inventory

　　GR：Inventories should be stated at its cost

　　In inventory accounting，cost is the sum of the expenditures and charges，direct and indirect，in bringing goods to their required condition or location.

　　SR1：Precious metal and farm Products

　　Net Realizable Value(NRV)is an item‘s net selling price less the costs to complete and dispose of the inventory

　　农产品使用NRV的前提：可按公开市场价格迅速出售、产品可替换、无法确定成本

　　(SR2)Lower of Cost or Market(LCM)

　　Market means current replacement cost，provided the current replacement cost does not exceed market ceiling(net realizable value)or fall below market floor(net realizable value reduced by normal profit margin)

　　Market Ceiling=NRV=Selling price–Costs to complete and dispose

　　Market Floor=NRV–normal profit

　　LCM 解题思路

　　一根数轴画出来，四个数据要点上。

　　上限售价减费用，再减利润为下限。

　　先将上下两限点，限定重置区间值。

　　重置若落区间内，重置上面插大旗。

　　重置若落区间左，下限上面插大旗。

　　重置若落区间右，上限上面插大旗

　　成本点上标小旗，理应跟在大旗后。

　　若是小旗在前面，差额要把减值提。