Inventory costing methods - exercises | Accounting for Management

Exercise-1 (Current assets section of the balance sheet)

Exercise-2 (Perpetual and periodic inventory system – journal entires)

Exercise-3 (FIFO, LIFO and average cost method in periodic inventory system)

Exercise-4 (Ending inventory using dollar value LIFO method)

Exercise-5 (Net method of recording purchases)

Exercise-6 (Gross method of recording purchases)

Exercise-7 (Periodic inventory system vs perpetual inventory system)

Exercise-8 (FIFO and LIFO under periodic and perpetual system)

Exercise-9 (Computation of ending inventory under FIFO and LIFO)

Exercise-10 (FIFO and LIFO based income statement)

Exercise-11 (Comparison of FIFO, LIFO and average costing method)