ACC 311 WORKSHOP 6.4 CASE STUDIES
Download Why is Kroger disclosing the replacement cost of its LIFO inventory? Assuming that year-end replacement cost figures approximate FIFO inventory values, estimate what the beginning and ending inventory balances for the fiscal year ended 1/29/11 would have been if Kroger had used FIFO for all of its inventories. Estimate the effect on cost of goods sold (that is, would it have been greater or less and by how much?) for the fiscal year ended 1/29/11 if Kroger had used FIFO for all of its inventories. What method does the company use to value its inventory? What other alternatives are available under IFRS? Under U.S. GAAP?