Description

In this course, the basic concepts of inventory costing under the FIFO, LIFO and Average Cost systems are presented along with examples of each, using two separate layouts for calculation.  Also, a discussion about the impact to the Income Statement and the Balance Sheet under each method will be presented.

In this course, the basic concepts of inventory costing under the FIFO, LIFO and Average Cost systems are presented along with examples of each, using two separate layouts for calculation.  Also, a discussion about the impact to the Income Statement and the Balance Sheet under each method will be presented.