Financial Accounting–Inventory & Merchandising Transactions
Merchandising transaction including purchase and sale of inventory, discounts, and returns. FIFO, LIFO, Average Methods
What you’ll learn
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Inventory Costing
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First In First Out (FIFO) cost flow method
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Last In First Out (LIFO) cost flow method
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Weighted average cost flow method
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Periodic inventory method
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Perpetual inventory method
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Merchandising transactions
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Record purchase of merchandise
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Record the sale of merchandise
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Perpetual and periodic inventory systems
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Sales discount and purchase discount
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Inventory shrinkage and sales returns
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Financial statements for a merchandising company
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Comprehensive problem of the entire accounting cycle
Requirements
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We should have a basic understanding of financial accounting and debits and credits.
Who this course is for:
- Accounting students
- Business owner
- Anyone who whats to learn accounting
