Financial Accounting–Inventory & Merchandising Transactions

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Last Updated on March 27, 2021 by thegiantreport

Financial Accounting–Inventory & Merchandising Transactions

Merchandising transaction including purchase and sale of inventory, discounts, and returns. FIFO, LIFO, Average Methods

What you’ll learn

  • Inventory Costing
  • First In First Out (FIFO) cost flow method
  • Last In First Out (LIFO) cost flow method
  • Weighted average cost flow method
  • Periodic inventory method
  • Perpetual inventory method
  • Merchandising transactions
  • Record purchase of merchandise
  • Record the sale of merchandise
  • Perpetual and periodic inventory systems
  • Sales discount and purchase discount
  • Inventory shrinkage and sales returns
  • Financial statements for a merchandising company
  • Comprehensive problem of the entire accounting cycle


  • We should have a basic understanding of financial accounting and debits and credits.

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who whats to learn accounting


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