Module 7, Video 2 - Inventory - FIFO, LIFO, Weighted Average - Problem 7-2A

Go to: www.accountingworkbook.com/ to download the problems.
Link to Template: www.accountingworkbook.com/upl...
Module 7 examines inventory methods of tracking inventory. It explores the differences between FIFO, LIFO and Weighted Average inventory methods. You will learn to prepare inventory records and to record the journal entries related to tracking inventory.

[@berberbeautyful]

just had a midterm, i watched this on my way to the exam...you saved me thank you so much!!

[@ray7431]

THANK YOU for this video!!! i've been stuck on my accounting homework for a few hours and was really starting to get stressed out. Once I watched this video, I understood it 10x better. Thank you so much, I appreciate you.

[@hundahazeze]

Awesome lecture 💙 from Tanzania 🇹🇿

[@unzikarim2648]

I recommend watching Edspira's video first bout FIFO then this video..It's crystal clear now..Thankyou very much,

[@jiawei4779]

you are best tutor I've ever met

[@Leny1777]

Finally a great LIFO,FIFO video on YT!

[@user-ny4si4tk1r]

You’re absolutely legend 😭❤️

[@tommyjackson1745]

Great video! Really helped m brush up before a competition I'm doing next week.

[@janinemoncrieffe2067]

THANK YOU SOO MUCH!!! This was so much clearer than the textbook

[@lelanhlapo866]

thanks to you I just got a 96 for my exam

[@Tony-Bell]

Woohoo! Congrats!

[@lateshiachilds3640]

Thanks for explaining this, I think I got it. I was a little confused I believe I have this down now.

[@bontle_blk]

Hi, I love your videos. Please help on how to record when Purchases are returned to supplier and excess stock is returned back to store room on the weighted average. I'm not sure what to do.

[@emmelinenar5056]

Have followed you ❤️ thank you for ur lessons!!!

[@lizharless6972]

I wish I would have found your videos at the beginning of the chapter!!

[@joycemytz]

you’re amazing thank you😭

[@samyscraps01]

On your chart about :49 seconds in, it says that the sales were 22 units. It says the cost/price was $7.99. How did you calculate that price? Most of my problems don't come with a sale amount. Please explain. Thanks.

[@aminullahamini3037]

Can you tell me , for what we are using these methods (LIFO, FIFO,Average methods and etc..)

[@gitadewanti7893]

OMG thank you so muchh, ur my hero!!

[@flags6424]

thank you i finally understand

[@maleahcoy4475]

Great tutorial !!! Thank you :)))))))

[@spyros774]

Very good job!

[@viknerajmohan4458]

is this the periodic or perpetual method?

[@debbyho8631]

why is the last one for 31-May is "3, 3.70, 11.10" ? how did you get the "3"from sir?

[@voguishkari]

you're the best!!

[@delightshonhe965]

very helpful.thank you

[@nurainsabrina6359]

On may 2, at cr, what did you write? Sorry for asking

[@maxines108]

Why did it become 3 from that 3.70 units?

[@tulshiramdhkate8638]

This acc work best knowledge

[@user-yb4qx3hj4x]

omg, thankyou somuchhh :3

[@majedameen9864]

Thanks for lesson

[@youarehere1251]

Anyone knows why May 31 Sale of 13 units, how come he didn’t use up all 5 units of 3.70 first and move to the 7 units @ 3.55 ...?

[@hugginsm1]

Hi TonyThank you for this video, can you tell me how to find pen tool on excel.

[@Tony-Bell]

In new versions of excel, if you have a stylus (like a wacom or an MS surface or an Apple Pencil), you can just write on the screen and it works. But the key is, you need an "active stylus". It definitely works for Wacom products, MS Surface products, and iPad pro products.

[@khalifaissa221]

Am so sorry ,,,let me asky a simple question about,,this method is used on field ,,,,or it really theory without practice....

[@DileepKumar-ik5ep]

Sir, please upload departmental accounts and cash flows videos

[@mikailbadamasiusman5837]

I really appreciate but our lecturers they do not to that they just brings us d questions and do it by ourselves

[@bakhtawarkhan2052]

Please guide me if unit cost is given and market value is also given for each transaction occurred in that scenario we will take market value or unit cost?

[@debzsteesaru4401]

Thank you very much for explaination very clear

[@virendrashukla1936]

Thank u

[@youarehere1251]

Took a photo of the problem from your cell and watch video on other devices , much better understanding.

[@lushgarden679]

really useful

[@iksannurmansyah5697]

Why you take Viral?

[@akrooma]

i wonder how not a single instructor mentions returns / damages of inventory ! what are they? negligent quantities?

[@Tony-Bell]

Check my Module 6 videos. I definitely go over inventory returns.

[@debicakar6925]

Greaaat

[@motivitionalclub9064]

Thanks useful video but poor explanation .

[@majedameen9864]

Thanks for lesson