FA 32 - Inventory - FIFO Method FIXED

Module 7 examines inventory methods of tracking inventory. It explores the differences between FIFO, LIFO and Weighted Average inventory methods. You will learn to prepare inventory records and to record the journal entries related to tracking inventory.

[ayoubfarhat]

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[anasuarez]

Thanks for summarizing 2h of reading in 14:06 minutes 🧡.

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[TooMusicObsessed]

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[AliciaRogers-st]

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[ToddGunterJr]

Thankfully FIFO, LIFO and the rest wasn’t on my final exam, I struggled badly on this topic. I just got my grade back and passed this class.

[johanserdiroche]

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[gbaca]

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[galaxyspace]

I found
Sales Revenue 350
COGS 112.20
Gross Profit 237.80

[xino]

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[adhamosama]

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[brandongarber]

isnt the gross progit 237.80? There were 13 units sold on the 31st, not 15

[carolinerose]

Another easy video to follow and learn along with. Thank you Mr.Bell! Wondering if you do any tutoring or assignments assistance? Currently working on my last assignment and find myself struggling and stuck.

[dylancampilango]

Isn’t the COGS written as 112.60 supposed to be 112.20?

[daynalujan]

Hi Tony, could you explain the difference between the inventory costing methods and the LCM? Wouldn’t the inventory costing methods record the inventory on the balance sheet?

[arifiqbalkhan]

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[KhulekaniMhlaba]

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