ORDER Download of this Session Next Session To Menu To Home
In this session you will be introduced to merchandising accounting and manufacturing accounting. You will see that the perpetual inventory system can be used while accounting for a manufacturer or accounting for a merchandiser. Costing inventory will be introduced. You will learn how to handle freight charges while learning about cost of goods sold and other methods of costing inventory. See the subjects covered in this session, below:
The differences and the similarities of the three types of businesses is explained.
Explains the difference between accounting for a merchandising business and other types of businesses.
Explains the difference between accounting for a manufacturing business and other types of businesses.
Explains the different types of inventory systems.
Shows how to arrive at the ending inventory using FIFO, LIFO and Weighted Average.
Explains what happens when the beginning or ending inventory is misstated.
Explains what accounts are affected when freight is involved.
Gives a tip on how to determine who pays the freight.