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Financial Accounting–Inventory & Merchandising Transactions

Merchandising transaction together with buy and sale of stock, reductions, and returns. FIFO, LIFO, Common Strategies

What you’ll be taught

  • Stock Costing
  • First In First Out (FIFO) value circulate methodology
  • Final In First Out (LIFO) value circulate methodology
  • Weighted common value circulate methodology
  • Periodic stock methodology
  • Perpetual stock methodology
  • Merchandising transactions
  • Report buy of merchandise
  • Report the sale of merchandise
  • Perpetual and periodic stock methods
  • Gross sales low cost and buy low cost
  • Stock shrinkage and gross sales returns
  • Financial statements for a merchandising firm
  • Complete drawback of your complete accounting cycle

Requirements

  • We must always have a fundamental understanding of monetary accounting and debits and credit.

Who this course is for:

  • Accounting college students
  • Enterprise proprietor
  • Anybody who whats to be taught accounting


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