How FIFO Inventory Accounting Works in 5 Minutes

Опубликовано: 02 Май 2022
на канале: Accounting University

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Learn FIFO Inventory Accounting in 5 Minutes. In today’s video, we cover FIFO Inventory Accounting or First In First Out.

In this video, I break down this concept with a real-world example followed by a short practice problem that makes learning FIFO Inventory Accounting fast and easy. Check it out!

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⏱️TIMESTAMPS

0:00 Intro
0:09 What is FIFO?
0:33 Real World Example
1:31 FIFO Inventory Accounting Steps
1:47 What is Cost of Goods Sold
2:01 FIFO Inventory Practice Problem - Calculate Cost of Goods Sold
4:00 FIFO Inventory Practice Problem - Calculate Ending Inventory
4:25 Conclusion of Video

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