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
LINDSEY –
Enough information with out overload.
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JANNET –
Very good course
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BADEWA –
I learned so much about inventory.
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LORAINE –
Very Concise and examples were easy to follow
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BASURAM –
It’s useful
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KRISTOPHER –
Very insightful, and easy to understand.
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SHAUN –
,I like the quizzes, and the examples are well written.
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CYNTHIA –
Excellent worktext
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TAMARA –
In-depth and complete. Laid out in a way that was easy to follow!
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ROBERT –
Excellent presentation of complicated material with valuable quiz-and-answer sections as well.
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RASHMIBEN –
Very thorough and to the point book. I gained very good knowledge & understanding of this skills. It is really helping me for my current study.
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JOANN –
I don’t work with inventory for very many clients but the course allows you to get your feet wet.
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MD –
good to apply in real life .
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NANCI –
Helpful material.
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RAM –
Excellent
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KRISHNA –
It is very nice & more useful
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ANNE –
Very thorough, practice problems and quizzes are helpful.
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YU –
Great materials! Kudos to the writers of this book.
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KAREN –
Excellent Book
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JOYCE –
material covered in detail but I’m a simple understandable manner
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MIGUEL –
The process is very good and for me is need practices.
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JOAN –
The information on inventory was great.
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VICKI –
I knew very little about inventory because in my position I have not used it much. However, after the course, I do have more confidence in that if it comes up I will be able to tackle it.
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