Calculate Ending Inventory Formula and Explanation

Calculate Ending Inventory Formula and Explanation
Inventory items are assets owned by a company (products, raw material, & parts) for the purpose of selling. At the end of an accounting period, businesses calculate ending inventory to determine the financial status of the company. Learn how to define ending inventory, explain the purpose of balance sheets, and how to use a formula to calculate ending inventory.

Learning Outcomes

Going through this Video on ending inventory will prepare you to:
State the definition of ending inventory
Contrast assets and liabilities on a balance sheet
Solve for the ending inventory

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