"Financial Report":Inventories、Long-Lived Assets

来源: 正保会计网校编辑：小鞠橘桔 2021/03/05 09:59:05　字体：大小

学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！

Questions 1:

A company manufactures aluminum cans for the beverage industry and prepares its financial statements in accordance with International Financial Reporting Standards (IFRS). During its latest full fiscal year, the company recorded the following:

Financial Report:Inventories、Long-Lived Assets

The total costs included in inventory (in € thousands) for the year are closest to:

A、 €150,980.

B 、€150,460.

C 、€149,

Questions 2:

A company purchased a warehouse for €35 million and incurred the following additional costs in getting the warehouse ready for use:

● €2.0 million for upgrades to the building’s roof and windows

● €0.5 million to modify the interior layout to meet their needs (moving walls and doors, inserting and removing partitions, etc.)

● €0.1 million on an orientation and training session to familiarize employeeswith the facility

The cost to be capitalized to the building account (in millions) is closest to:

A 、€37.6.

B、 €37.5.

C、 €37.0.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Total inventory costs are as follows:

Financial Report:Inventories、Long-Lived Assets

Abnormal waste, storage of finished goods, and administrative overhead are expensed.

A is incorrect because trade discounts of €520 were not subtracted from inventory, giving the incorrect total €150,980.

C is incorrect because transportation of €640 was not added to inventory, giving the incorrect total of €149,820.

【Answer to question 2】B

【analysis】

B is correct. The capitalized cost of the building would include the other costs that are directly attributable to the building and are involved in extending its life or getting it ready to use:

Financial Report:Inventories、Long-Lived Assets