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momo · 2023年09月10日

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NO.PZ202308140300007601

问题如下：

Q. Crux’s inventory turnover ratio computed as of 31 December 2018, after the adjustments suggested by Groff, is closest to:

选项：

A.5.67.

B.5.83.

C.6.13.

解释：

B is correct. Crux’s adjusted inventory turnover ratio must be computed using cost of goods sold (COGS) under FIFO and excluding charges for increases in valuation allowances.

COGS (adjusted) = COGS (LIFO method) – Charges included in cost of goods sold for inventory write-downs – Change in LIFO reserve= USD3,120 million – 13 million – (55 million – 72 million)= USD3,124 million

Note: Minus the change in LIFO reserve is equivalent to plus the decrease in LIFO reserve. The adjusted inventory turnover ratio is computed using average inventory under FIFO.

Ending inventory (FIFO) = Ending inventory (LIFO) + LIFO reserveEnding inventory 2018 (FIFO) = USD480 + 55 = USD535Ending inventory 2017 (FIFO) = USD465 + 72 = USD537Average inventory = (USD535 + 537)/2 = USD536

Therefore, adjusted inventory turnover ratio equals:

Inventory turnover ratio = COGS/Average inventory = USD3,124/USD536 = 5.83

麻烦解释下整个16题

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lynn_品职助教 · 2023年09月11日

嗨，爱思考的PZer你好：


这道题考察的是LIFO、FIFO转换公式

为了实现三个公司ratio的可比性，Groff建议把LIFO转成FIFO，三个公司Crux和Mikko都是用LIFO，本题是让计算Crux公司转换为FIFO之后的inventory turnover ratio。


inventory turnover ratio=COGS/average inventory

  • inventory的转换直接用公式：Ending inventory (FIFO) = Ending inventory (LIFO) + LIFO reserve
  • COGS转换公式：COGSF = COGSL – Δ LIFO reserve


本题还有一个条件：调整的时候假设没有valuation allowance。

这里的valuation allowance是存货的一个备抵账户，其原理类似于depreciation：

1、产生valuation allowance的时候要增加valuation allowance，存货的net value就相应减少。

2、同时allowance要体现在COGS中，在COGS里加上相应的金额，以减少Net income。


如果假设没有这个备抵账户，那么存货减少的部分就要加回，我们这里不需要手动加回，因为题目给了存货gross的金额和net 的金额，其中net是扣掉了valuation allowance的，gross是没有扣减的，我们用gross inventory对应的数字来套公式即可。

但COGS要手动调整一下，有valuation allowance的话COGS里就包括这部分，如果没有的话我们就要从COGS里减掉之前计提的allowance，所以COGS转换公式就变成：

COGSF = COGSL –Charges included in cost of goods sold for inventory write-downs- Δ LIFO reserve

注意，如果题目没有提到assume no valuation allowance，那么直接用COGSF = COGSL – Δ LIFO reserve公式转换即可。

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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2024-08-14 11:00 1 · 回答

NO.PZ202308140300007601 问题如下 Q. Crux’s inventory turnover ratio computeof 31 cember 2018, after the austments suggesteGroff, is closest to: A.5.67. B.5.83. C.6.13. B is correct. Crux’s austeinventory turnover ratio must computeusing cost of goo sol(COGS) unr FIFO anexclung charges for increases in valuation allowances.COGS (auste = COGS (LIFO metho – Charges incluin cost of goo solfor inventory write-wns – Change in LIFO reserve= US,120 million – 13 million – (55 million – 72 million)= US,124 millionNote: Minus the change in LIFO reserve is equivalent to plus the crease in LIFO reserve. The austeinventory turnover ratio is computeusing average inventory unr FIFO.Enng inventory (FIFO) = Enng inventory (LIFO) + LIFO reserveEnng inventory 2018 (FIFO) = US80 + 55 = US35Enng inventory 2017 (FIFO) = US65 + 72 = US37Average inventory = (US35 + 537)/2 = US36Therefore, austeinventory turnover ratio equals:Inventory turnover ratio = COGS/Average inventory = US,124/US36 = 5.83 RT，Inventory的调整计算可以理解，COGS的调整计算没看明白

2024-03-31 11:18 1 · 回答