196 pages [94 self-teaching + 102 self-quizzes with detailed answers]
Section 1: Introduction. What to include in merchandise costs, when and how to record the journal entries. How inventory is reported on the income statement as cost of goods sold and on the balance sheet as ending inventory.
Section 2: The perpetual method. How to compute and record journal entries for purchases (net or gross) . . . sales . . . purchase discounts . . . returns and allowances . . . customer sales returns . . . and inventory shrinkage.
Section 3: The periodic method. How to compute and record journal entries for purchases (net v. gross), sales, discounts, returns and allowances, sales returns, inventory shrinkage and closing out the inventory-related accounts at year end.
Section 4: Weighted average costing. How to compute ending inventory and COGS using weighted average costing (periodic method) and moving average costing (perpetual method).
Section 5: First-in, first-out (FIFO) costing. Clear explanations of FIFO under the perpetual v. periodic method, including how to compute and record purchases, sales, COGS and ending inventory.
Section 6: Last-in, first-out (LIFO) costing. How to compute and record purchases, sales, COGS, ending inventory and LIFO layers. When and how to compute LIFO liquidations.
Section 7: The lower of cost or net realizable value (LCNRV) rule. How to compute and apply LCNRV by item v. group v. total inventory. How to handle purchase commitments that are followed by a decline in the value of inventory, then a recovery.
Publisher: AIPB
JANICE –
I thought it was great, easy to follow and certainly prepared you for CB exam.
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CONNIE –
Great refresher
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ENRIQUE –
Good book. Exlellent
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MARLISE –
Excellent.
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ARTHUR –
My only complain is that non of these good books available in PDF, otherwise good job!!!!
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WALTER –
EXCELLENT COURSE
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AMY –
For someone who does not have experience with inventory, I appreciate the easy to follow explanation of the different methods of inventory. Anther course book that will take a permanent place in my library for reference.
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LINDA –
Very good.
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SHARI –
Very good overview of what is needed for the certified bookkeeper exam.
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AHMAD –
Very good books and easy instruction.
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BUNDANCE –
This was a wonderful and informative course!! Easy to follow and understand!!!
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PEGGY –
This is for everyday bookkeeping life. I refer back to this book all the time.
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ANITA –
No comments.
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KIRILKA –
It was very interesting and I study it with eager.
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JOY –
It was very helpful as a resource
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