7 ) Presented below the information related to Dino Radja Company . Compute the ending inventory for Dino Radja Company for 2011 throw 2016 using the Dollar value LIFO method .
8 ) Under IFRS , an entity should initially recognize inventory when
9 ) With respect to accounting of inventories , which of the following is a difference that exists for IFRS , as opposed to U . S GAAP ?
10 ) Some of the transactions of Torres Company during August are listed below . Torres uses the periodic inventory method .
11 ) Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken : prepare general journal entries to record the transactions
12 ) Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses : prepare general journal entries to record the transactions
13 ) Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses : prepare the adjusting entry necessary on August 31 if financial statements are to be prepared at that time .