Accounting for Purchase and Sale of Inventory

Accounting for Purchase and Sale of Inventory, available at $44.99, has an average rating of 4.45, with 10 lectures, 2 quizzes, based on 12 reviews, and has 84 subscribers.

You will learn about Discover core concepts related to inventory for a merchandising business. Recognize how to perform transactions for the sales of inventory cycle. Recognize how to perform transactions for the purchase of inventory cycle. Recognize how to perform other transactions associated with inventory such as sales tax and physical inventory counts. This course is ideal for individuals who are Anyone interested in finance, accounting or related fields. It is particularly useful for Anyone interested in finance, accounting or related fields.

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Summary

Title: Accounting for Purchase and Sale of Inventory

Price: $44.99

Average Rating: 4.45

Number of Lectures: 10

Number of Quizzes: 2

Number of Published Lectures: 9

Number of Published Quizzes: 2

Number of Curriculum Items: 12

Number of Published Curriculum Objects: 11

Original Price: $27.99

Quality Status: approved

Status: Live

What You Will Learn

Discover core concepts related to inventory for a merchandising business.

Recognize how to perform transactions for the sales of inventory cycle.

Recognize how to perform transactions for the purchase of inventory cycle.

Recognize how to perform other transactions associated with inventory such as sales tax and physical inventory counts.

Who Should Attend

Anyone interested in finance, accounting or related fields.

Target Audiences

Anyone interested in finance, accounting or related fields.

In this course, the accounting for inventory in merchandising companies is presented.?Both the purchase and sales sides of the transactions will be analyzed, along with sales tax and physical inventory practices.?Differences in accounting for both Free On Board (FOB) points will be explained along with dealing with payment discounts.?

The Income Statement is expanded to a Multi-Step Income Statement to accommodate the additional information needed to be presented by a merchandising company.?Additionally, contra-accounts are added to the list of accounting tools.

Course Curriculum

Chapter 1: Introduction

Lecture 1: Introduction to Purchase and Sale of Inventory

Lecture 2: Multi Step Income Statement

Lecture 3: FOB and Payment Terms

Lecture 4: Journal Entries and Buyers Point of View

Lecture 5: Sellers Point of View

Lecture 6: Example: Purchase and Sale of Inventory

Lecture 7: Sales Tax and Inventory Shrinkage

Chapter 2: Supporting Materials

Lecture 1: Notes Template: Purchase and Sale of Inventory

Lecture 2: Workbook: Purchase and Sale of Inventory

Chapter 3: Review and Test

Instructors

Illumeo Learning
Condensed and Efficient Courses for Busy Professionals

Erik Slayter (Illumeo)

Rating Distribution

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2 stars: 0 votes

3 stars: 2 votes

4 stars: 2 votes

5 stars: 8 votes

Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

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