INVENTORY & COST OF GOODS SOLD
💥Inventory (Merchandising Business) Cheat Sheet → https://accountingstuff.co/shop
In this video you'll find out what Inventory means and how to account for it in a Merchandising Business. We'll cover the link between Inventory in the Balance Sheet and the Revenue & Cost of Goods Sold accounts in the Income Statement. This episode is part of a mini-series exploring Inventory in Accounting. You can find the link to the whole playlist here ⬇️
🔗Full Inventory Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l31NY9Ecy-eFyrK6UiFzdtAi
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:55 - Manufacturing vs Merchandising Businesses
01:23 - Inventory in a Manufacturing Business
01:36 - Inventory in a Merchandising Business
02:12 - Why Inventory is an Asset
02:29 - Inventory Worked Example - Question
03:22 - Inventory Worked Example - Solution
08:41 - Recap
🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7
🔎FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m
🚶FOLLOW ME ON
▪ Insta → https://www.instagram.com/accountingstuff
▪ Twitter → https://twitter.com/AccountantStuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb
________________________
DISCLAIMER
Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
For sponsorship, product reviews, and collaboration, you can email me here: james@accountingstuff.co
________________________
#accounting #accountingbasics #accountingstuff
Видео INVENTORY & COST OF GOODS SOLD канала Accounting Stuff
In this video you'll find out what Inventory means and how to account for it in a Merchandising Business. We'll cover the link between Inventory in the Balance Sheet and the Revenue & Cost of Goods Sold accounts in the Income Statement. This episode is part of a mini-series exploring Inventory in Accounting. You can find the link to the whole playlist here ⬇️
🔗Full Inventory Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l31NY9Ecy-eFyrK6UiFzdtAi
🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:55 - Manufacturing vs Merchandising Businesses
01:23 - Inventory in a Manufacturing Business
01:36 - Inventory in a Merchandising Business
02:12 - Why Inventory is an Asset
02:29 - Inventory Worked Example - Question
03:22 - Inventory Worked Example - Solution
08:41 - Recap
🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7
🔎FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m
🚶FOLLOW ME ON
▪ Insta → https://www.instagram.com/accountingstuff
▪ Twitter → https://twitter.com/AccountantStuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → https://www.youtube.com/playlist?list=PL5zKSeS09l339nB6ujJPQ9Rsv99_b-aTb
________________________
DISCLAIMER
Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
For sponsorship, product reviews, and collaboration, you can email me here: james@accountingstuff.co
________________________
#accounting #accountingbasics #accountingstuff
Видео INVENTORY & COST OF GOODS SOLD канала Accounting Stuff
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