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작성자퀵서비스 조회 13회 작성일 2021-10-10 19:21:20 댓글 0

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What is inventory? | Types of inventory

In this video, I have discussed " What is inventory? "
Inventory or stock is the term refers to the goods and materials that a business holds for the goal of resale, production or utilisation.
Topics I have discussed in this video are: What is inventory, types of inventory, and what are the Reasons for keeping inventory.

Supply chain management -


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Sri Ram : Perfect
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Inventory Explained

In the lesson, we look at Inventory. We explain what inventory is, how to identify if an asset is an inventory, methods of determining the cost of inventory, inventory systems, and the disclosure of inventories in the financial statements.

Timestamps:
The definition of inventory (What is inventory): 00:00
Classification of inventory: 01:28
Cost of inventories: 03:44
Methods of determining the cost of inventory: 05:03

FIFO (First-In-First-Out) Method - PERPETUAL Example:


First In First Out (FIFO) | PERIODIC Example:


Weighted Average Inventory Costing | PERPETUAL Example:


LIFO Method Accounting - Perpetual:


Inventory with VAT | Journal Entries | Periodic Inventory System:


Inventory with VAT | Journal Entries | Perpetual Inventory System:


Perpetual Inventory System Explained with Journal Entry Example:


Periodic Inventory System Explained with Journal Entry Example:


Check out other straight-forward examples on our channel.

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Jades : Thank you very much. I love how you explain everything so easily that one can understand it immediately.
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IAS 2 Inventories - summary

https://www.cpdbox.com/
This is just the short executive summary of IAS 2 and does NOT replace the full standard - you can see the full text on IFRS Foundation's website.
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KATENDE FRANK : Never seen an awesome teacher like you
Thank you so much sylvia
baraka lugasi : Thanks for making stndards easy and understandable.
Mohammed Ismail : Beautiful and wonderful work
learn accounting : It was really awesome, I had learned a lot through this video,
hope you can make more IAS video, at least 100 IAS video, I guess it gonna really help us
and help u to grow your channel
I Know : Good evening Silvia! I have a question. Refer to IAS2, should Insurance and property taxes on the manufacturing equipment & factory add to manufacturing overhead cost? Thank you so much for you answer.

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#inventory

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