Accounting Tutoring - Accy 201, Ole Miss

1

Specific Identification

Of the inventory costing methods, specific identification is by far the easiest, and the least used.

2:17

2

Weighted Average

Weighted average is another inventory costing method that applies a single average cost to all the units.

4:21

3

FIFO and LIFO

FIFO and LIFO are the two most commonly used inventory costing methods. And they are also the only accounting terms that most people remember years later.

20:17

4

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.

7:23

	Click Here to View All Chapter 5 Problems at Once	View
1	Loss On Inventory	Easy
2	Inventory Costing	Moderate

Chapter 5

Videos

Practice Problems

1	Specific Identification Of the inventory costing methods, specific identification is by far the easiest, and the least used.	2:17
2	Weighted Average Weighted average is another inventory costing method that applies a single average cost to all the units.	4:21
3	FIFO and LIFO FIFO and LIFO are the two most commonly used inventory costing methods. And they are also the only accounting terms that most people remember years later.	20:17
4	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.	7:23