LO9-01: Understand and apply rules for measurement of inventory at the end of the reporting period.
LO9-02: Estimate ending inventory and cost of goods sold using the gross profit method.
LO9-03: Estimate ending inventory and cost of goods sold using the retail inventory method, applying the various cash flow methods.
LO9-04: Explain how the retail inventory method can be made to approximate the lower of cost or market rule.
LO9-05: Determine ending inventory using the dollar-value LIFO retail inventory method.