Cost of Inventory

Goods in Transit Entity A sold $25,000 merchandise to Entity B with the terms of FOB destination on December 22, … More

Cost Flow Assumptions

Cost Flow Assumptions First-in, First-out (FIFO) method Last-in, First-out (LIFO) method Weighted average method First-in, First-out (FIFO) method Old purchases … More

Inventory Analysis

Inventory Turnover Ratios 1. Inventory turnover ratio = Cost of goods sold / Average inventory 2. Days in inventory = … More