a. Toyoza's inventories were costed using the LIFO method and that Lincoln Enterprises employed the FIFO method.
Fantastic news! We've Found the answer you've been seeking!
Question:
a. Toyoza's inventories were costed using the LIFO method and that Lincoln Enterprises employed the FIFO method. Provide the adjusting journal entries to restate Toyoza's inventories to a FIFO basis, assuming that ending inventories would have been Y160 million higher under the FIFO method and, |
b. Toyoza's purchased goodwill is amortized over 20 years. The current period's amortization expense is Y12 million for the year and is included under other operating expenses. Under a U.S. GAAP impairments test, it would have been 20% of that amount. |
Required: | ||||||||||
1. Re-do the ratio analysis based on the adjusted data and explain your calculating result. | ||||||||||
2. Suppose you are an analyst for Toyoza Enterprises, based on the information in Appendix 9-1 and the above ratio analysis (you may assume some other reasonable SWOT conditions), you are required to do a WOTS-UP anaylsis for Toyoza Enterprises. |
Related Book For
Posted Date: