This has been a great series of videos so far, Kevin. Allow me to voice my support for Specific Identification method of costing. You mentioned it around 9:00. For anyone that doesn't know, this is a system that keeps track of the cost of an item when serials or lots are applied so that, when you sell those serials and lots, the cost during purchase is applied rather than FIFO. Without serials and lots, the system uses FIFO to get the cost.
This has been a great series of videos so far, Kevin. Allow me to voice my support for Specific Identification method of costing. You mentioned it around 9:00. For anyone that doesn't know, this is a system that keeps track of the cost of an item when serials or lots are applied so that, when you sell those serials and lots, the cost during purchase is applied rather than FIFO. Without serials and lots, the system uses FIFO to get the cost.