Accounting 106 - Merchandise Inventory

Easiest Way To Learn the FIFO LIFO & Moving Average Stock Valuation Methods - A Step by Step Approach!

What you'll learn

Students will learn how to value Stock / Inventory / Merchandise for accounting purposes

Students will break into the field of Cost Accounting

Students should be able to work as Book keepers with some practice

Students will learn FIFO, LIFO and the Average Method Cost of Stock Valuation

Requirements

You should be able to use the computer at a basic level

You should have an internet connection

Description

Principles Of Accounting:"Accounting 106 is the 6th course in a series of Accounting Courses that are designed to help the complete beginner, go on to master the basics concepts of accounting and move on step by step to become a professional accountant! Students can further their knowledge of key accounting concepts which they can use in their full time employment goals or even can use this series to pick up freelance jobs to earn passive income by maintaining/completing book keeping entries for others via freelance websitesThe course is not just theory but also takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment. This is a medium paced course however students can speedup or slow down the videos of the course using the control buttons at the bottom of each videoCourse Outline:In this course we are going to learn about the basic accounting principles of:What is Inventory?What is the periodic and perpetual methods of inventory valuationFIFO (First In First Out Method of Inventory ValuationLIFO (Last In First Out Method of Inventory ValuationAverage Cost Method of Inventory ValuationLearn By Practice - We will be solving 6 Questions Together!Finding the Ending InventoryFinding the Cost of Goods SoldFinding the Gross ProfitHaving completed the Entire Series students of the proper age should be able to take up entry level jobs as book keepers, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 What is Inventory

Lecture 3 Question 1 - FIFO Method

Lecture 4 Question 1 - LIFO Method

Lecture 5 Question 1 - Moving Average Method

Lecture 6 Question 2 - Moving Average Method

Lecture 7 Question 2 - FIFO Method

Lecture 8 Question 2 - LIFO Method

Lecture 9 Question 3 - HASCOL Profit Calculation

Lecture 10 Question 3 - SHELL Profit Calculation

Lecture 11 Question 4 - The Periodic System Part 1

Lecture 12 Question 4 - The Periodic System Part 2

Lecture 13 Question 5 - Part 1

Lecture 14 Question 5 - Part 2

Lecture 15 Question 6 - Part 1

Lecture 16 Question 2 - Part 2

Lecture 17 Conclusion & What is the next course in the series?

Anyone looking to learn Accounting as a Beginner,Those looking to make passive income taking on freelance jobs,Those looking to grow their accounting skills & obtain higher level of understanding of accounting concepts