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L2 17 Inventories: Implications for Financial Statements and Ratios > b explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios; > Flashcards

b explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios; Flashcards

L2 17 Inventories: Implications for Financial Statements and Ratios (6 decks)

a calculate and explain how inflation and deflation of inventory costs affects the financial statements and ratios of companies that use different inventory valuation methods;

b explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;

c convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;

d describe the implications of valuing inventory at net realisable value for financial statements and ratios;

e analyze and compare the financial statements and ratios of companies, including those that use different inventory valuation methods;

f explain issues that analysts should consider when examining a company’s inventory disclosures and other sources of information.

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