| 1 |
COGS and Inventory
A brief introduction to inventory, cost of goods sold, and how they relate to each other. This is meant to be a brief overview before we really dive in.
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2:57 | |
| 2 |
Net Sales
There are a couple of things that can be taken out of sales to get us down to "Net Sales". You'll need to pay close attention, because these exact same things will apply to purchases too.
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10:03 | |
| 3 |
Perpetual vs Periodic
The two methods of inventory tracking. And, surprise, we're going to talk some more about words.
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7:10 | |
| 4 |
FOB Shipping?
What in the world does FOB mean? I'm not really sure, but that's ok, you wont miss any FOB questions if you can draw a line.
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8:51 | |
| 5 |
Transportation In
Transportation in matters, but transportation out never really gets talked about. What's the deal with that?
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8:41 | |
| 6 |
COGS
How can we figure out COGS under the periodic inventory system? By making up a formula, of course.
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6:18 | |
| 7 |
Drawbacks to Periodic
The Periodic inventory has a couple of drawbacks, which we will discuss here.
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6:07 | |
| 8 |
Estimating with Gross Profit
The Gross Profit Method is a way to estimate what our Cost of Goods Sold is, without having to do a physical inventory count.
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7:23 | |
| 9 |
The Multistep Income Statement
The single step Income Statement is what we're used to dealing with, but the Multistep Statement gives us much more visibility into the information that actually matters.
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12:44 |
| Click Here to View All Chapter 4 Problems at Once | View | ||
| 1 | Consignment Inventory | Easy | |
| 2 | FOB Destination | Easy | |
| 3 | Inventory Set Aside | Easy | |
| 4 | Loss On Inventory | Easy | |
| 5 | FOB Shipping | Moderate | |
| 6 | FOB Shipping | Moderate | |
| 7 | Calculating Operating Income | Hard | |
| 8 | The Effect of Inventory Errors | Hard |