[Ralphie Dos Nachos]

Hey guys,

I know inventory is very important and that anything could be tested but would you say that if I am comfortable with fifo, lifo, and weighted avg that i should be good? I just got done with module 3 of ch. 3 for Becker and I did well with the LIFO, FIFO, weighted average. I know that IFRS only uses LCNRV….LIFO = LCM, FIFO = LCNRV….FIFO Periodic = Perpetual. But dollar value lifo, gross profit method etc was a little iffy for me.

Should I not worry too much with Dollar value lifo, gross profit, etc? the smaller topics that is.

FAR - 76

AUD - 89

BEC - 84

REG - 86

[Operation_CPA]

Dollar value LIFO is way too easy just to skip it in my honest opinion. Take the 30-60 min to learn it – easy points on exam day if you get a question. There's only so many ways they can ask you.

FAR - 76 (Lost credit), 76
AUD - 80
BEC - 76
REG - 75

Truly I tell you, if you have faith as small as a mustard seed, you can say to this mountain, "Move from here to there," and it will move. Nothing will be impossible for you.

[TerriSilva]

my advice to you is to know the journal entries pertaining to inventory.

AUD - 79
BEC - 80
FAR - 75
REG - 86

California Licensed CPA as of August 19th, 2019!

 

[Author]

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