Tag Archives for " cost of goods sold "

Weighted Average Inventory Calculations

What Is a Weighted Average? Most people know how to do a simple average, but have trouble with a weighted average. Weighted averages are all around us, although you may not have realized it. In most classes,

Learn More

Last-In, First-Out (LIFO) Inventory Calculations

Last-in, first-out (LIFO) is an inventory method popular with companies that experience frequent increases in the cost of their product. LIFO is used primarily by oil companies and supermarkets, because

Learn More

Calculating Inventory Cost

Calculating Inventory Cost Inventory costs are constantly changing. Companies must decide how inventory costs will be calculated for the purposes of expensing that inventory when it is sold. There are

Learn More

Inventory: Discounts

What Is a Discount? We all love discounts, but why would a business offer offer a discount on their products? Typically, a business might offer a discount to increase sales, make an unhappy customer happy

Learn More

Introduction to Periodic and Perpetual Inventory

What is Inventory? Inventory is an asset account composed of items a company is planning to sell to customers. In financial accounting, we deal primarily with merchandising companies. A merchandiser is

Learn More
>

Eliminate up to 80% of the reading required in your classes, while actually doing better on your exams!