What critical assumptions has TESLA made to value inventory? Does TESLA use FIFO or LIFO? Explain what is LCM (the lower of cost or market) and how this may impact inventory every year. During the years ended December 31, 2019, 2018 and 2017, we recorded write-downsof $138 million, $78 million and $124 million, respectively, in cost of revenues.Our inventory consisted of the following (in $millions):8DecemberDecember31, 201931, 2018Raw materials1,428932Work in processFinished goodsService parts3622971,3561,581406303Total3,5523,113

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Description: What critical assumptions has TESLA made to value inventory? Does TESLA use FIFO or LIFO? Explain what is LCM (the lower of cost or market) and how this may impact inventory every year. During the years ended December 31, 2019, 2018 and 2017, we reco

Inventory Valuation There are different method which are adopted in the valuation of the inventory.…

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What critical assumptions has TESLA made to value inventory? Does TESLA use FIFO or LIFO? Explain what is LCM (the lower of cost or market) and how this may impact inventory every year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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