Tag Archives for " Inventory "

Types of companies

It is important to identify the type of company you are working with in managerial accounting. Depending on the type of company, you will identify different costs and set up reports differently. There

Learn More

Recording Warranty Expenses and Liabilities

What is a warranty? Most of the products we purchase come with some type of warranty. A warranty is guarantee that the manufacturer of the product will repair or replace the product for a certain period

Learn More

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

First-In, First-Out (FIFO) Inventory

Calculating Cost Using First-In, First-Out (FIFO) The First-In, First-Out method, also called FIFO, is the most straight-forward of all the methods. When determining the cost of a sale, the company uses

Learn More
>

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