CHP 9: INVENTORY

Inventory is an accounting term that refers to goods that are in various stages of being made ready for sale, including: Finished goods (that are available to be sold) Work-in-progress (meaning in the process of being made) Raw materials (to be used to produce more finished goods)

Inventory Accounting

Inventory

9.1 Periodic System and Perpetual System

The difference between the periodic and perpetual inventory systems

9.2 Journal Entries

Inventory Journal Entries in the Periodic and Perpetual System

(You Tube)

Accounting for Beginners #47 / LIFO / Last in First Out Journal Entries / Inventory Perpetual 

9.3 Valuation Methods - FIFO, LIFO and Weighted Average

How to Value Inventory: FIFO, LIFO, or Average?

First In First Out (FIFO) | Inventory Cost Flows (You Tube)

Last In First Out (LIFO) | Inventory Cost Flows (You Tube)

Average Cost Method (AVCO) | Inventory Cost Flows (You Tube)

Inventory - periodic: FIFO,LIFO,average

Accounting for Beginners #45 / LIFO / FIFO / Weighted Average / Summary / Inventory Perpetual

Recommended text/reading:

• Sangster, A., & Wood, F. (2019). Business accounting volume 2 (14th ed.). Pearson.
•  Sangster, A., & Wood, F. (2018). Business accounting volume 1 (14th ed.). Pearson.
•  Weagant, J.J., Kimmel, P.D., & Keiso, D.E. (2018). Accounting principles (12th ed.).  Wiley. (for this ebook you need to join this channel >> accounting <<

"ENJOY LEARNING ACCOUNTING"

## THANK YOU ##

Sanisah Hanim Jiman

KMKN