How to account for Inventory - Accounting Basics
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How to account for Inventory - Accounting Basics
This video provides a basic understanding of how companies should account for Inventory under US GAAP. Journal entries for the purchase and sale of inventory as well as basic examples of how FIFO, LIFO, and the weighted average inventory methods impact cost of goods sold (COGS) are provided. This video uses examples to help compute COGS, gross ...
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