Inventory Explained
Counttuts
Published at : 21 Nov 2021
Published at : 21 Nov 2021
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| In the lesson, we look at Inventory. We explain what inventory is, how to identify if an asset is an inventory, methods of determining the cost of inventory, inventory systems, and the disclosure of inventories in the financial statements. Timestamps: The definition of inventory (What is inventory): 00:00 Classification of inventory: 01:28 Cost of inventories: 03:44 Methods of determining the cost of inventory: 05:03 FIFO (First-In-First-Out) Method - PERPETUAL Example: https://youtu.be/5xtL-95lLdI First In First Out (FIFO) |
PERIODIC Example: https://youtu.be/NNCMoiGkv6A Weighted Average Inventory Costing |
PERPETUAL Example: https://youtu.be/GW3rsCCAUkw LIFO Method Accounting - Perpetual: https://youtu.be/WlGdJvPx6jQ Inventory with VAT |
Journal Entries | Periodic Inventory System: https://youtu.be/0e45eQIShCo Inventory with VAT |
Journal Entries | Perpetual Inventory System: https://youtu.be/XtUyAVCjCMM Perpetual Inventory System Explained with Journal Entry Example: https://youtu.be/l_Nxoqsyf-Q Periodic Inventory System Explained with Journal Entry Example: https://youtu.be/-JMKSaQiaiU Check out other straight-forward examples on our channel. We also offer one-on-one tutorials at reasonable rates. Connect with us: Email: info@counttuts.com Our Website: https://Counttuts.com Our Facebook Page: https://www.facebook.com/Counttuts Support our Efforts: https://www.patreon.com/Counttuts |
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