Question: Obtain the 2013 financial statements for Teck Resources Limited from the companys website or from SEDAR (www.sedar.com). Required: a. How much in inventory did the

Obtain the 2013 financial statements for Teck Resources Limited from the company’s website or from SEDAR (www.sedar.com).

Required:
a. How much in inventory did the company have at the end of 2013? What four components comprised this amount?
b. The company separately reported the current and long-term portions of its inventory. What did the long-term inventory consist of? What was the rationale for segregation? Where was the long-term portion reported on the balance sheet?
c. What does the company include in inventory cost?
d. Which cost flow assumption does the company use?

Step by Step Solution

★★★★★

3.34 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Note 10 indicates that inventories at hand at December 31 2013 totalled 1752 million of which 1695 million was classified as current with the remaining 57 million classified as long term The four co... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Intermediate Accounting Questions!

1.Henry Hanover is currently consuming 20 cheeseburgers and 20 Cherry Cokes a week. A typical indifference curve for Henry is depicted below.

Obtain the 2013 financial statements for Thomson Reuters Corporation either through the companys website or through SEDAR (www.sedar.com). Required: a. In addition to the general requirements for the...

Obtain the 2013 financial statements for Thomson Reuters Corporation either from the companys website or from SEDAR (www.sedar.com). Required: a. What are the major categories of PPE that the company...

Obtain the 2013 financial statements for Thomson Reuters Corporation from the companys website or from SEDAR (www.sedar.com). Required: a. How much in intangible assets did the company have at the...

Obtain the 2011 financial statements of Teck Resources Limited from SEDAR (www.sedar.com). Instructions (a) Using the notes to the consolidated financial statements, determine the company's revenue...

Obtain the annual report for Encana Corporation for the fiscal year ended December 31, 2013, either through the companys website or through SEDAR (www.sedar.com). Required: a. How much cash did the...

Obtain the 2013 financial statements for Canadian Natural Resources Ltd. either from the companys website or from SEDAR (www.sedar.com). Required: a. In 2013, how much in mineral exploration and...

Compute these ratios for each of the last three years. Total Assets Turnover Ratio=sales (or operating) revenue/Average total assets Return on Assets= Net earnings+Interest expense(net of...

Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 Apollo case studies the question is on page 44 APOLLO SHOES, INC. An Audit Case to Accompany AUDITING AND...

Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as...

April Ross returned $500 of sports equipment purchased on 3514 The inventory value of the equipment was $200 An analysis of inventory indicated that many balls were deflated and recorded above market...

October Corporation reported net income of $46,000 in 2012. Depreciation expense was $17,000 and unrealized holding losses on temporary investments (FV-NI) were $3,000. The following accounts changed...

Gmail YouTube Maps Google Calendar Franklin Out Me ntaw connect Money and Banking - Tools of Conventional Monetary P Primary credit, on the other hand, is for banks in good financial health who can...

What role does the solvent play in acid-base systems?

3. Answer the following questions for the following circuit. R1 = R11 = R12 = 5 k2 w R1 all others are 10 ko. R2 R3 12V R5 R6 R7 R4 R10 R8 R12 R9 R11 a) Reduce the circuit as far as possible using...

Find the minimum sample size n needed to estimate u for the given values of c, o, and E. c= 0.95, o= 5.3, and E = 1 Assume that a preliminary sample has at least 30 members. n = (Round up to the...

In a survey of 2450 adults in a recent year, 1378 say they have made a New Year's resolution. Construct 90% and 95% confidence intervals for the population proportion. Interpret the results and...

In a survey of 4063 adults, 708 oppose allowing transgender students to use the bathrooms of the opposite biological sex. Construct a 99% confidence interval for the population proportion. Interpret...

The forces of competition in markets with free entry and exit tend to eliminate wage differentials that arise from discrimination by a employers b customers c government d all of the above

Capilano Forest Company Ltd. (CFCL) has been owned and managed by an experienced forester, Don Strom, for 20 years. The company has performed well in the past few years, but the industry is cyclical....

Hamilton Holdings had the following balances in shareholders equity as at December 31, 2021: In addition, the financial statement notes on this date indicated that two years of preferred share...

The following is an extract from the balance sheet of Devlin Ltd. as at December 31, 2021: The company did not declare dividends on preferred shares in 2021. Transactions in 2022 include the...

a) Given the following pair wise exchange rates: 1 = $1.1268, and 1 = $1.4571 (i) Calculate the cross-rate of euros per pound. (5 points) (ii) Calculate the cross-rate of pounds per euro. (5 points)...

Which of the following statements is False about regression analysis Question 3 1 pts Which of the following statements is FALSE about regression analysis? O Regression analysis falls under...

(7.6) The size of the left upper chamber of the heart is one measure of cardiovascular health. When the upper left chamber is enlarged, the risk of heart problems is increased. A paper described a...