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1、CHAPTER 10 Inventories and the Cost of Goods sold,第十章 存货和已销商品成本,Vocabulary (page 491),Key Terms Introduced or Emphasized in Chapter 10,Average-cost method 平均成本法(p.469),A method of value all units in the inventory at the same average per-unit cost, which is recomputed after every purchases. 平均成本法，是在每
2、次购货之后，重新计算存货单位成本，使所有存货都按照相同的平均单位成本计价的一种方法。,Consistency(in inventory valuation) (存货计价的）一贯性 (p.475),An accounting standard that calls for the use of the same method of inventory pricing from year to year, with full disclosure of any change in method. Intended to make financial statements comparable. 一
3、贯性，是一项会计准则，它要求各年采用同样的存货计价方法，同时充分披露所使用方法的变动。其目的是为了使财务报表有可比性。,Cost flow assumption 成本流转假设(p.468),Assumptions as to the sequence in which units are removed from inventory for the purpose of sale. Need not parallel the physical movement of merchandise if the units are homogeneous. 成本流转假设，是为了销售而对发出库存货物成本
4、流转顺序进行的假设。如果存货是相同性质的，成本的流转顺序不必与商品实物流转顺序相一致。,Cost layer (p.468) 成本批次,Units of merchandise acquired at the same unit cost. An inventory comprised of several cost layer is characteristic of all inventory valuation methods except average cost. 成本批次是指按照同样单位成本购买的某批商品。除平均成本法外，一项存货由几个成本批次组成是各种存货计价方法的共同特点。,C
5、ost ratio (p.485) 成本比率,The cost of merchandise expressed as a percentage of its retail selling price. Used in inventory estimating techniques, such as the gross profit method and the retail method. 成本比率是以零售价格的百分比表示的商品成本。是存货估价的方法，例如：毛利率法和零售价法。,First-in, first-out (FIFO) (p.469) 先进先出法,A method of comp
6、uting the cost of inventory and the cost of goods sold based on the assumption that the first the merchandise acquired is the first merchandise sold, and that the ending inventory consists of the most recently acquired goods. 先进先出法是根据最先购入的存货最先售出的假设计算存货成本和已销售商品成本的一种方法，而且假定期末存货包括最近购入的货物。,F.O.B. (free
7、on board) destination 目的地交货价 (p.480),A term meaning the seller bears the cost of shipping goods to the buyers location. Title to the goods remains with the seller while the goods are in transit. 目的地交货价是一个专有名词，特指销售方承担将商品运输到买方所在地的成本。在途商品的所有权仍保留在销售方。,F.O.B shipping point (p.479) 起运点交货价,The buyer of goo
8、ds bears the cost of transportation from the sellers location to the buyers location. Title to the goods passes at the point of shipment and the goods are the property of the buyer while in transit. 起运点交货价是指商品的买方承担由销售方所在地到买方所在地的运输成本。商品的所有权在运输起点转移，运输途中商品是买方的财产。,Gross profit method (p. 484) 毛利率法,A met
9、hod of estimating the cost of the ending inventory based upon the assumption that the rate of gross profit remains approximately the same from year to year. 毛利率法是根据各期毛利率几乎不变的假定，估计期末存货成本的方法。,Inventory turnover rate(p.487) 存货周转率,The cost of goods sold divided by the average amount of inventory. Indica
10、tes how many times the average inventory is sold during the course of the year. 存货周转率等于销售成本除以存货平均余额。它表明年度内存货平均销售了多少次。,Just-in-time(JIT) inventory system 适时存货制度(p.475),A technique designed to minimize a companys investment in inventory. 适时存货制度，是公司为减少对存货的投资而设计的方法。,In a manufacturing company, this mean
11、s receiving purchases of raw materials just in time for use in the manufacturing process, and completing the manufacture of finished goods just in time to fill existing sales orders. 在制造公司，适时存货制度是指收到所购买的原材料正好是制造过程所需要使用的时间，完工产品的制造结束正好是销售定单所填写的销售时间。,Just-in-time also may be described as the philosophy
12、 of constantly becoming more efficient. 适时存货制度也可以被描述为永恒的更为有效的基本原理。,Last-in, first-out (LIFO) method 后进先出法(p469),A method of computing the cost of goods sold by use of the prices paid for the most recently acquired units. 后进先出法，是根据最近期购入货物所支付的价格计算已销商品成本的一种方法。,Ending inventory is valued on the basis of
13、 prices paid for the units first acquired. 期末存货根据最先购入存货所支付的价格计价。,LIFO reserve 后进先出准备 (p.489),The difference between the current replacement cost of a companys inventory and the LIFO cost shown in the accounting records. The fact that a LIFO reserve can become very large is the principle shortcoming
14、of the LIFO method. 后进先出准备是一个公司存货的当期重置成本与会计账簿中按后进先出法显示的存货成本之间的差异。后进先出准备可能很大，这是后进先出法是主要缺点。,Liquidation of a LIFO reverse 后进先出准备的清理 (p.489),Selling merchandise from a LIFO inventory to the point at which the inventory falls below the traditional level. 后进先出准备的清理是由于按照后进先出法，在存货降到低于一般成本水平时销售商品而产生的。,As a
15、result, the costs passing into the cost of goods sold cease to become the costs of recent purchase and may, in fact, become the very “old” costs. Tends to inflate reported profits. 其结果是，记入已销商品成本的存货成本不再是最近购入存货的成本，事实上销售成本会变成十分“陈旧”的成本。 其结果是夸大所报告的利润。,Lower-of-cost-or-market (LCM) rule 成本与市价孰低规则 (p.479),
16、A method of inventory pricing in which goods are valued at original cost or replacement cost (market), whichever is lower. 成本与市价孰低法是一种存货计价方法，当按照原始成本或重置成本（市价）对货物计价时，选择两者中较低成本计价。,Physical inventory (p.477) 实地盘存制,A systematic count of all goods on hand, followed by the application of unit prices to the quantities counted and development of a dollar valuation of the ending inventory. 实地盘存制是通过清点全部库存货物，然后用存货的单价乘以盘点的数量，计算期末存货美元价值的制度。,Retail method零售价法(p.484),A method of estimated
