[Financial Accounting]: Chapter 7: Inventories

In this video, I walk you through Chapter 7: Inventories. I cover content including FIFO, LIFO, and the weighted average cost flow methods, the perpetual and periodic inventory systems, cost of goods sold, ending inventory, and more. At the end, I go through step-by-step practice problems.

[bit]

you make my teacher sound mentally challenged. I don't know how you can explain everything so simply and she can make me how to divide numbers. Thank you.

[carlyecataldo]

You are a lifesaver I hope ur becoming an accounting teacher

[farmer_tx]

Thanks so much for making this video. I’m so happy I came across it. In just under 48:00 minutes I have a better understanding of inventory accounting now.

[alexanderkarapetyan]

Nice! I understood everything Professor Ahearn. I have an exam today for chapters 3-7. I hope I will get the highest grade! <3

[fqehjzu]

This is a good video. Idk if it’s how my brain works but you may want to skip to the practice problems then watch the theory

[OliverWorth-dz]

Hi, just wanted to let you know you made a mistake at 25:49. Under FIFO you take the oldest inventory first (first inventory sold). You took the most recent at Oct 30th.

[Arnav]

Keep up the content, It really was helpful in understanding.

[Min-xmqn]

I have a question. 17:00 What if Sale’s cost are different as Inventory’s cost on Weighted average method? How am I suppose to calculate?

[PresidentUSVI]

This made it much more easier to understand than my college course. Thanks a lot.

[mikemuchimba]

17:00 why don't we maintain or add the cost of inventory purchased on November 1? The 10 units from 40 @ $5 remained, how then does COGS of Ending Inventory all cost $7? Kindly help

[hamedbisabri]

i have question about 44:00 why 10 units *25 ?

[KoyinsolaOlorode]

Shouldnt the FIFO be 30 * 7 but you had 10 * 7 please clarify at19.07 minutes