Case Name :      Up-In-Smoke Corporation

Authors :           Elizabeth M.A. Grasby, Joanne Lansink

Source :             Ivey Publishing

Case ID :            999B06

Discipline :        Accounting

Case Length :    04 pages

Solution Sample availability : YES

Plagiarism : NO (100% Original work)

Up-In-Smoke is an inventory valuation exercise using the periodic method. Completed in two steps, students are first required to value the total goods available for sale by considering items such as duty, taxes, returns, discount terms, FOB, and purchase prices. Once completed, various methods to value the inventory ending balance can be applied and compared, namely FIFO, LIFO and the weighted-average-cost method.