Easiest Way To Learn the FIFO LIFO & Moving Average Stock Valuation Methods – A Step by Step Approach!
Principles Of Accounting:
What you’ll learn
- Students will learn how to value Stock / Inventory / Merchandise for accounting purposes.
- Students will break into the field of Cost Accounting.
- Students should be able to work as Book keepers with some practice.
- Students will learn FIFO, LIFO and the Average Method Cost of Stock Valuation.
Course Content
- Introduction –> 17 lectures • 1hr 39min.
Requirements
Principles Of Accounting:
“Accounting 106 is the 6th course in a series of Accounting Courses that are designed to help the complete beginner, go on to master the basics concepts of accounting and move on step by step to become a professional accountant!
Students can further their knowledge of key accounting concepts which they can use in their full time employment goals or even can use this series to pick up freelance jobs to earn passive income by maintaining/completing book keeping entries for others via freelance websites
The course is not just theory but also takes real life examples and walks you through the accounting process. It is meant for students who would like to grasp the accounting concepts in an easy and fun learning environment.
This is a medium paced course however students can speedup or slow down the videos of the course using the control buttons at the bottom of each video
Course Outline:
In this course we are going to learn about the basic accounting principles of:
- What is Inventory?
- What is the periodic and perpetual methods of inventory valuation
- FIFO (First In First Out Method of Inventory Valuation
- LIFO (Last In First Out Method of Inventory Valuation
- Average Cost Method of Inventory Valuation
- Learn By Practice – We will be solving 6 Questions Together!
- Finding the Ending Inventory
- Finding the Cost of Goods Sold
- Finding the Gross Profit
Having completed the Entire Series students of the proper age should be able to take up entry level jobs as book keepers, however students would have to practice these concepts again and again externally so that they can grasp real world applications quickly.