[Intermediate Accounting] Discussion 07 - Inventory Estimation

Hi! This is Sir Chua's Accounting Lessons PH.
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Intermediate Accounting
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Discussion 07
Inventories 4
Inventory Estimation
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Kevin Troy M. Chua, CPA
*Certified Public Accountant, October 2014
*CIPP UK Certified Payroll Professional®, October 2020
*BS Accountancy
*Master in Accountancy (CE Pending)
*NC-III Bookkeeping, TESDA
*Content Developer for Accountancy - Course Hero
*Accounting and Finance Lecturer
*Formerly from PwC - Isla Lipana & Co. and SM
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For comments and suggestions, you may put them down respectfully in the comments section below.
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For speakership invites, please do not hesitate to shoot an email at [e-mail]
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Opening music:
Love Is • Macchiato
Music promoted by - d a y d r e a m -
Link: / @blu6683
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TO GOD BE ALL THE GLORY, HONOR, AND PRAISE FOREVERMORE!

[@kwonjihoon2270]

Kung sino man mga naging students niyo nung wala pang pandemic I'm very sure they learned a lot from you. Your uploads are very helpful already, how much more if face-to-face yung classes niyo. It must be fun learning with you personally Sir.

[@cusijosefree0613]

"Ala namang nakapagrecord ka pa habang nasusunog" 😂 you're so funny po Sir. Thank you very much for this po!

[@folklovermorenightsdepartment]

Sir, sana ikaw nalang prof namin sa IA. Huhuhuhu
P. S I won't disclose the name of my school, mahirap na hahahahhaa

[@kfmg2858]

Good day sir! I have a question po regarding sa cost-retail , Kasama po ba ang transfer in, transfer out , abnormal loss and employee discount sa pagcompute ng sales or purchases?

[@gucedanicajoyce4951]

HAHAHAHA lol kpop fan si sir, kilala ang bts 😂 kinanta pa yung Fire nila 😂

[@gucedanicajoyce4951]

I am so sleepy right now but I needed to study for tomorrow's quiz. Thanks for the intro, I love the song. Nakaka shock rin na marunong kayo magtalog hahaha, Thank you po.

[@bernardmelendres7259]

Hi po sir...Ask ko lang pop if may FOA ka na Accounting lessons po.

[@antoninovillete8229]

Love ur intro music.anu title sir. Thank yoi sir. Dami ko natutunan

[@remejoyyy]

saranghaeyo sir. Di nahahalatang bts fan po kau sirHAHAHA

[@couragely1576]

Please continue uploading accounting lessons as it has served a great deal of help to me and freshman year in accounting.

[@lai5807]

Thank youu very much sir! I can easily understand the lessons because of you charot hahaha.
Sir can I request a topic po? Can you make a discussion about Government grant?
Thank youu po talaga sir.

[@ryxarianeguibelondo9088]

Please keep on uploading accounting lessons sir chua! it's a huge help sa students like me. More power po, godbless!

[@lauraolivia4463]

Thank you po, Sir Chua! Ang galing niyo po. Pero magagalit po ba kayo kung sasabihin kong di ko pa narinig totoong sound ng voice mo? Palagi pong naka-x2 ang speed. Hehe

[@sirchuasaccountinglessonsp3030]

Ganyan naman kayo, pinagra-rap nyo ko lagi hahahahaha

[@lauraolivia4463]

@@sirchuasaccountinglessonsp3030 aww I'm so touched, na-notice ako ng nag-iisang Sir Chua na magaling. Pero infairness Sir, ang galing niyo po mag-rap. Clear na clear yung words, daig mo pa po si Eminem.

[@romiarian5978]

First I thought it was in English but further it goes it's more in native ,so that's why I can't understand ,
Can someone tell me what language is this?

[@silennalaurenmanlangit961]

Tagalog/filipino

[@princesleviejoyclaro5557]

Cutie naman po ng intro song. 😱😍

[@joseuberas1121]

Ang Ganda nang explanation, Sir chua! Great help Po sakin na nag rereview for CPA boards

[@kenjijamesvargas4563]

Sir, ano po treatment kapag may purchase allowance, discount at sales allowance, discounts?

[@bernadethmaycardino7633]

bakit ba mas gusto ko ang turo mo kaysa sa kasalukayang proof ko THANKYOUUUU SO MUCH SIR.

[@rosemiraflor5146]

Sir, itatanong konalang din po dito, ang freight-in in po ba kasama sa purchase price? freight-out at general overhead cost sa costs to sell po?

[@idunno7916]

Yung webinar po, it's free to join as audience po? Assuming po that it's about accounting¿ Curious lang po hihi

[@keimiyashiro6651]

I wish you were our* prof lool

[@shyngaborno4136]

Hello po, tanong ko lang po, dahil hindi naisama si sales allowances at discount sa estimated inventory, hindi na rin sila isasama sa income statement sa net sales na part or isasama pa rin? Thanks

[@kfmg2858]

Good day sir, in cost - retail , Kasama po ba ang employee discount, abnormal loss, transfer in, transfer out ? Thank you sir.

[@anunknowncommenter7013]

Kindly anyone can give me the formula of "Conservative retail inventory method" pls ...

[@ashleydulce1437]

Thank you sir!😭❤️

[@lrvtv4240]

Mas naiintidihan ko po kayo magturo kesa mga prof ko sa online class.

[@obet58]

Sir please Advance Accounting naman po huhu

[@rufaidahsalik1289]

That was a very detailed explanation. Thank you so much!!! I am currently reviewing for my Mock board exam tomorrow. Thankfully I came across your vid and sobraaaang laking tulong po 🫶 God bless you, Sir!

[@alvinabad613]

Tyy sir chuaaaaaa!!! I am having my last yr sa bsa.and meron po kaming oral and written exam.aask kami ng cpa sa saturday jan9..this is really helpful sa toa and Far questions

[@ralphlefrancisdomingo9449]

Maproseso pero Kaya. Thank you for the precise and simple discussion sir chua.

[@eleneem2]

I'm not your student but thank you!!! 💕

[@theresecarmelvolcan5019]

On computing the Net Sales, what if po there's an account of Sales Return and Allowances, wil it be included in computation of Net Sales? (Sales Return has physical flow of goods, but Sales Allowances has no physical flow of goods)

[@annacaira5571]

Included po. Deduct sales return and allowances from sales to arrive at the net sales that will be deducted to COGAS.

[@annepandesal]

thank you ♡

[@yukie31snow]

Prelim Exam ko bukas sana maretain ko lahat. Ang galing nyo po talaga magpaliwanag 💜 Thank you Sir Chua 😫

[@rhonamacahilas7346]

Hello Sir. Anggaling po ng pagkakadiscuss nyo po. Is it okay to ask you po?😍 Sa given data ng problem na sinosolve ko po kasi is sabi don 'Sales (including sales of 4,500 that were marked down from 6,000) = P374,000. Tanong ko po is isasama ko po ba yung 1,500 na markdown sa pagcompute ng GAS at retail before computing cost-to-retail ratio? or wala na pong gagawin , deduct nalang yung 374,000 as sales sa GAS for estimation to get the ending inventory at retail po? Thank you so much, sana po manotice nyo po. 😍

[@gerryrocascerrudocpa2170]

Inn that case , you have to show P 1,500 markdown....to arrive at cost of goods available for sale at Retail( Average approach/Cost method )...in Conservative approach, do not include the markdown in computing GAFS at retail to be used in getting cost percentage...but ultimately deduct the markdown to get the final cost of goods available for sale at retail whether Conservative or Average...

[@mikiakada5139]

thank you po, sir chua! god bless u po always.
mikss :))

[@renzdelrosario3844]

Helpful as always sir. Thank you po!
Renz

[@rafaelindic522]

Thank you po sir
Rafael Indic

[@kimberlybagnol1405]

thanks po!!!!!!!!!! gets na gets ko to

[@diehann9368]

Thank you, sir! I appreciate ur lessons po as always!!!
- Diahann 💘

[@angelademecillo9231]

Thank you po sir!!
-Angela

[@angelmayo8117]

Thank you sir
Angel😊😊😊

[@rowellacobierros445]

Thank you po sir chua! More power po.
ella :)

[@jascelmanlangit9378]

Thankyoy sir Chua!❤️

[@spencersaria6888]

Thank you po sir😊
-spencer

[@idunno7916]

@20:06 cracked me up 🤣 lavittt

[@najiwest291]

Thankyou po sir 💖
-andrei

[@berlenelykatreishapedimont1351]

Thank you po, Sir!
Berlene

[@idunno7916]

Thank you very much po sana marami pa po kayong matukungan na students

[@yanaboo8885]

I love also your humor and hugots.

[@scmndr1630]

Thank you po sir!
Elline

[@charmierosetalisay5739]

Thank you sir❤️
-Charmie

[@idunno7916]

27:58 retail inventory method

[@allyzabuenaventura4231]

Thank you po sir
-Ally

[@monzalesjovye.1680]

Thank you so much sir! More power

[@yanaboo8885]

love your intro music

[@gizelleannmartinez585]

thank you po.
zelle 😊

[@judyannlapres8127]

Thank you sirrr❤
-judy ann

[@dyanamey8300]

Jannah Mae

[@zgzernramoran4105]

Sir chua the best teacher

[@zgzernramoran4105]

best teacher ba

[@ritchellejoybautista3056]

thank you so much for this discussion, Sir! :)

[@yanaboo8885]

thank you sir!!!☻

[@jouanaescarlan2523]

Jouana

[@patriciamaerosales200]

thank you, sir!
pat

[@elizbethcula6036]

😊 Elizabeth

[@jomnaparan9332]

Jom

[@trixiaestiller9583]

Trixia 🤗

[@arizavillafuerte8365]

Ariza

[@keytnicholekatipunan7198]

Keyt Nichole

[@yanaboo8885]

learned a lot

[@Ryfrnc09]

Franco

[@jennybandiola9216]

Jen
BSA301