Chapter 18: Inventory and Overhead

Chapter 18: Inventory and Overhead

1. Perpetual Inventory System

   • Automatically updates

2. Periodic Inventory System

   • Manual Updates

3. Assigning Costs

   • Specific Identification
   • Weighted Average
   • FIFO
   • LFIO

4. Estimate Value of Ending Inventory

   • Retail Method
   • Gross Profit Method

5. Inventory Turnover

   • At Cost
   • At Retial

6. Overhead Expenses

   • Distribution Methods
     • Floor Space
     • Sales