Inventory Valuation Methods at Samsung

• Values:
  • Beginning Inventory: $120,000,000
  • Purchases: $70,000,000
  • Sales Revenue: $180,000,000

• Requirements:
  1. Calculate the ending inventory using the LIFO method for Samsung.
  2. Determine the cost of goods sold (COGS) using the LIFO method.
  3. Discuss the advantages and disadvantages of LIFO in inventory valuation.
  4. Analyze the impact of inventory valuation methods on Samsung’s financial statements.

Job Costing at Boeing

• Values:
  • Direct Materials: $300,000
  • Direct Labor: $200,000
  • Overhead Applied: $150,000
  • Number of Units Produced: 10
• Requirements:

1. Calculate the total job cost for Boeing.
2. Determine the cost per unit for the completed job.
3. Discuss the benefits of job costing in the aerospace industry.
4. Recommend improvements to Boeing’s job costing system.