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Course Description

There are different methods that companies use to track inventory, which represent the physical versus accounting flow of associated costs. In this lesson, you'll identify common types of flow, such as average cost, specific identification, LIFO, and FIFO, which allow for physical and numerical tracking of inventory. You will then evaluate the uses and methods of periodic inventory to calculate assets and later make adjustments to an account for shrinkage.

Benefits to the Learner

  • Identify the methods companies use to track physical versus accounting flow of inventory
  • Distinguish the methods and uses of specific identification, average cost, LIFO, and FIFO
  • Evaluate the ways in which periodic inventory may be used and how to make necessary adjustments later
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Type
self-paced (non-instructor led)
Dates
Sep 22, 2020 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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