Page 6 - FINAL CFA I SLIDES JUNE 2019 DAY 8
P. 6
LOS 28.c: Calculate and compare cost of sales, gross profit, and
ending inventory using different inventory valuation methods and
using perpetual and periodic inventory systems, p.181 Session Unit 8:
28. Inventories
Lower COGS, Higher CI, Higher NI
Higher COGS, Lower CI, Lower NI
FIFO
This is all periodic inventory
tanties systems. We waited till January
end to do stock counts:
LIFO
How about
perpetual inventory Systems?
We could have
Weighted average method
FIFO or LIFO Perpetual…
