ch06存货与销货成本

TheBasisforBusinessDecisionsSixteenthEditionWilliamsHakaBettnerCarcelloCopyright©2012TheMcGraw-HillCompanies,Inc.2Chapter6InventoriesandCostofSales3INVENTORYRAWMATERIALSWORKINPROCESSFINISHEDGOODSFormanufacturers,inventoryhasthreedistinctcategories.ClassifyingInventory4WhyisInventoryControlImportant?Inventoryisasignificantassetandformanycompaniesthelargestasset.Inventoryiscentraltothemainactivityofmerchandisingandmanufacturingcompanies.Mistakesindetermininginventorycostcancausecriticalerrorsinfinancialstatements.Inventorymustbeprotectedfromexternalrisks(suchasfireandtheft)andinternalfraudbyemployees.5ReceivingreportPurchaseorderInvoiceAGREEJOURNALDescriptionNov.9Post.Ref.DateInventory122200AccountsPayable--XYZCo.122200Purchasedmerchandiseonaccount.6Atthebalancesheetdate,companiesmustdeterminehowmanyunitsareonhand,andvaluethoseunits.Twostepsarerequiredtoachievethis:1.Takeaphysicalinventorycount2.DetermineownershipofgoodsDeterminingInventoryQuantities7SellerBuyerPublicCarrierCo.FOBShippingPointFOBDestinationPointPublicCarrierCo.BuyerSellerOwnershippassestothebuyerhereOwnershippassestothebuyerhereGoodsinTransit8Aconsignmentagreementtransfersgoodsfromaconsignortoaconsignee,whoagreestosellthegoods.ConsignorConsigneeCustomerConsigneeremitsproceeds(lessfee)toconsignorwheninventoryissold.Inventoryonconsignmentisincludedintheconsignor’sinventoryuntilsold.ConsignedGoods9LIABILITIESOWNER’SEQUITYREVENUESASSETSCOSTS&EXPENSESEffectofInventoryErrorsonFinancialStatementsMerchandiseInventoryCostofMerchandiseSoldIfmerchandiseinventoryis.......Costofmerchandisesoldis......Grossprofitandnetincomeare...Endingowner’sequityis.........overstatedunderstatedoverstatedoverstatedNetIncome10Ifmerchandiseinventoryis.......Costofmerchandisesoldis......Grossprofitandnetincomeare...Endingowner’sequityis.........understatedoverstatedunderstatedunderstatedEffectofInventoryErrorsonFinancialStatements11PERPETUALINVENTORYInventorypurchasedRecordpurchaseItemsoldRecordrevenue&COGSEndofperiodNoentryInventorypurchasedRecordpurchaseItemsoldRecordrevenueonlyEndofperiodComputeandrecordCOGSPERIODICINVENTORYInventorySystems12•Underthismethod,eachpurchaseandsaleofmerchandiseisrecordedintheinventoryandthecostofmerchandisesoldaccounts.•Theamountofmerchandiseavailableforsaleandtheamountsoldarecontinuouslydisclosedintheinventoryrecords.Periodicvs.PerpetualMethodsofAccountingPerpetualMethod13Periodicvs.PerpetualMethodsofAccountingPeriodicMethod•Amethodofdeterminingthecostofmerchandisesoldandtheamountofmerchandiseonhand•Underthismethod,theinventoryrecordsdonotshowtheamountavailableforsaleortheamountsoldduringtheperiod14ContinuousdeterminationofinventoryvalueContinuousdeterminationofgrossprofitAffordablewithcomputers,scanners,andbarcodesonmostproductsPerpetualinventoryaccountingprovidesmanagementcontrolsManagersknowwhichitemsaresellingfastestandtheprofitmarginonthoseitemsAdvantagesofUsingPerpetualInventory15PurchaseTransactions16DateDescriptionPost.Ref.DrCr.12345Jan.3MerchandiseInventory2510002007Cash251000PurchasedinventoryfromBowenCo.PurchaseTransactionsOnJanuary13,PurchasedmerchandiseforcashfromAldenCompany,$2,510.17Underthegrosspricemethod,acompanyrecordsthepurchaseatthegrossprice,andrecordstheamountofthediscountintheaccountingsystemonlyifthediscountistaken.Underthenetpricemethod,acompanyrecordsthepurchaseatitsnetprice,andrecordstheamountofthediscountintheaccountingsystemonlyifthediscountisnottaken.PurchaseDiscounts18JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275OnMarch12,NetSolutionspurchasedmerchandiseonaccountfromAlphaTechnologies,$3,000.Mar.12MerchandiseInventory3000002007AccountsPayable—AlphaTechnologies300000PurchaseDiscounts–GrossPriceMethod19JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275IfpaymentismadebyMarch22NetSolutionsrecordsthediscountasareductionincost.Mar.22AccountsPayable—AlphaTechnol.300000Cash294000MerchandiseInventory60002007PurchaseDiscounts–GrossPriceMethod20JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275IfNetSolutionsdoesnotpaytheinvoiceuntilApril11,itwouldpaythefullamount.Apr.11AccountsPayable—AlphaTechnol.300000Cash3000002007PurchaseDiscounts–GrossPriceMethod21JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275OnMarch12,NetSolutionspurchasedmerchandiseonaccountfromAlphaTechnologies,$3,000.Mar.12MerchandiseInventory2940002007AccountsPayable—AlphaTechnologies294000PurchaseDiscounts–NetPriceMethod22JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275IfpaymentismadebyMarch22NetSolutionsrecordsthediscountasareductionincost.Mar.22AccountsPayable—AlphaTechnol.294000Cash2940002007PurchaseDiscounts–NetPriceMethod23JOURNALDateDescriptionPost.Ref.DrCr.1234PAGE275IfNetSolutionsdoesnotpaytheinvoiceuntilApril11,itwouldpaythefullamount.Apr.11AccountsPayable—AlphaTechnol.294000PurchasedDiscountsLost6000Cash3000002007PurchaseDiscounts–NetPriceMethod24PurchaseDiscounts假设甲公司购入一批原材料，发票价格为20,000元，增值税税率为17％，付款条件为1/10，n/30，材料已验收入库。25(1)购入时：借：原材料20,000应交税费——应交增值税（进项税额）3,400贷：应付账款23,400(2)在折扣期内付款时：借：应付账款23,400贷：银行存款23,200财务费用200(3)超过折扣期付款时：借：应付账款23,400贷：银行存