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Chapter 9 - Class #9

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Linda Stillabower

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Class #9▯ ▯ ACTG 1P91▯ November. 8th, 2011 Inventory Turnover COGS/AVG INVENTORY Days in Inventory 365/Inventory Turnover We have seen Cash - Bank Rec, AR - AFDA, Inventory - COGS, now we are looking at PPE (Property, Plant, and Equipment) - Amortization Expense. Measure amount - Allocate to periods benefited Measure, Cost of Asset Land Building Equipment less Accumulated Amortization = Net Book Value Equipment ▯ $82,000 Freight▯ $820 Legal Fees▯ X Appraisal▯ X Installation▯ X If self-constructed Interest▯ Part of Cost Interest During Construction is part of the cost of the building Interest After Construction is a finance expense Basket Purchase - decision to buy entire company Cash AR Inventory Fixed Assets etc. all is sold to you at $12,987,
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