【金融经济考试】【CFA-Level1】【Financial Reporting and Analysis（财报）-财报-R21

(1).Inventory cost is least likely to include:

A.
production-related storage costs.

B.
costs incurred as a result of normal waste of materials.

C.
transportation costs of shipping inventory to customers.

(2).Mustard Seed PLC adheres to IFRS. It recently purchased inventory for €100 million and spent €5 million for storage prior to selling the goods. The amount it charged to inventory expense (€ millions) was closest to:

A.
€95.

B.
€100.

C.
€105.

(3).Carrying inventory at a value above its historical cost would most likely be permitted if:

A.
the inventory was held by a producer of agricultural products.

B.
financial statements were prepared using US GAAP.

C.
the change resulted from a reversal of a previous write-down.

(4).LIFO reserve is most likely to increase when inventory unit:

A.
costs are increasing.

B.
costs are decreasing.

C.
levels are decreasing.

(5).If inventory unit costs are increasing from period-to- period, a LIFO liquidation is most likely to result in an increase in:

A.
gross profit.

B.
LIFO reserve.

C.
inventory carrying amounts.

(6).A write down of the value of inventory to its net realizable value will have a positive effect on the:

A.
balance sheet.

B.
income statement.

C.
inventory turnover ratio.

(7).Like many technology companies, TechnoTools operates in an environment of declining prices. Its reported profits will tend to be highest if it accounts for inventory using the:

A.
FIFO method.

B.
LIFO method.

C.
weighted average cost method.

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