kodak analysis

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Title: kodak analysis

Essay Details:

Subject: Business

Author: Addie S

Date: December 21, 2014

Level: University

Grade: A

Length: 22 / 6411

Essay text:

Second, allocate costs to sales, inventory, etc. Cost Convention: Items are valued at the historical cost of all input factors. Conservatism Convention: Recognize costs immediately and revenue only when it is certain. Accruals Convention: An obligation from a credit worthy customer may be regarded as a sale. Cost of Raw Materials in P/L Account = Opening Inventory + Purchases ? Closing Inventory Valuation of Closing Inventory can be done by FIFO, LIFO or Average Value. High Valuation of Closing Inventory = High Profits, because low valuation of matched materials cost. Types of inventory: Raw Materials, Work-In-Progress, Finished Goods...

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