MCD2160 Lecture Notes - Lecture 5: Purch Group, Weighted Arithmetic Mean, Kombucha

• School: Monash University
• Department: Diploma of Business - Monash College (MCD)
• Course: MCD2160
• Professor: sadiq

Document Summary

By the end of this week you should have mastered the following initial check list. Identify costs that attach to inventory aasb 102 par 10. Use a cost flow method for each product aasb 102 par 23 and par 25. Determine cost for each product per unit, using the cost flow methods of: Determine nrv for each product per unit aasb 102 par 6. Compare cost and nrv for each product and select the lower value aasb 102 par 9. Calculate the lower total value of inventory on hand. Prepare any adjustment journal entry aasb 102 par 34. Prepare the income statement extract aasb 102 par 36. Prepare the balance sheet extract aasb 102 par 36. Must be able to separately report the cost and the nrv. Read text: monash custom carlon et al chapters. Chapter 5 pp 293 302, 305 308. Complete the homework in the myaccountinglab by sunday before the tutorials.