Inventory

Inventory

1. N.R.V.

   • Write-Off
   • Journal Entries

2. Definitions

   • Inventory
   • N.R.V.
   • Measuring Inventory

3. Cost Formulas

   • Weighted Average
   • FIFO
   • Specific Identification

4. Periodic VS. Perpetual

   • General Journal Entries
   • Ledger Accounts
   • Normal/Abnormal losses
     • Insurance Claim

5. Gross Profit Margins

   • On Selling Price
   • On Cost Price
   • Sale Effect