Inventory accounting may sound like a huge undertaking but in reality, it is quite straightforward and easy to understand. You start with the inventory you have on hand. No matter when you sell a product, the value of your inventory will remain constant based on accepted and rational methods of inventory accounting. Inventory costing methods include perpetual average cost, specific identification method (the two used by Total Office Manager), weighted average, first in/first out, and last in/first out.

Inventory Costing Methods

By |2021-07-26T14:16:46-05:00July 26th, 2019|

Introduction Inventory accounting may sound like a huge undertaking but in reality, it is quite straightforward and easy to understand. You start with the inventory you have on hand. No matter when you sell a product, the value of your inventory will remain constant based on accepted and rational methods of inventory accounting. Those methods

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