+Jose Interiano This comment brought a smile to my face. Sometimes I wonder how many talented people decide not to major in business after taking an accounting or finance course. I'm really glad you found the video helpful and that you're doing well! Best wishes
Very good explanation. I'm doing a financial analysis for a graduate level program and needed a refresher on some of these liquidity, solvency & profitability ratios. Thank you for getting right to the point!
Thank you so much for your very step by step detailed videos about the inventory system. I am currently taking an accounting class and it is very difficult and easy to forget once you move on. Your FIFO/LIFO/AVG/Ending Inventory videos really helped me in my class this week. Keep these videos coming.
Thank you so much! I'm science/health based and just stepped into a different role at my company. This is helping me manage so well. I really appreciate it
Thank you so much for sharing this,it helps me lot ,my mind so stress thinking all about how ,cause base in our prof. example i cannot understand but this one is more clearly for me the best one
Inventory valuation policy - I need to find this information, what I found is "Valuation of Inventory" in note is it the same. how to find the "nventory valuation policy" in our annual report. Thanks
So cost of goods sold would be the total cost of the goods to sale, I got that. But as far as the beginning and ending inventory amounts, is this minus the cost of goods?
The ending inventory does not include any goods that were sold during the period. Let's take a retailer for example:Beginning Inventory + Additions to Inventory - Cost of Goods Sold = Ending InventoryHope this helps!
I just started learning this shit. I'm bad with numbers. If say you buy shares valued at 2.4 and spend $100 and it goes up to say 2.8 shares how do you work out how much you earn? I'm really bad lol
I need help. I'm working on an assignment where the beginning and ending inventory are not given. All it says is the company uses the LIFO method and the merchandise inventory given is "Merchandise Inventory at LIFO Cost". I'm not sure how to figure out which is the beginning inventory and which is the ending inventory. Do I just use the year before the current year as the beg. inventory and the current year as ending inventory to figure out average inventory?
Of course the company sells. Otherwise it won't be in business. It just so happened that his goods available for sale (purchases including beginning inventory) for the year is greater than his sales for the year. Beginning Inventory + Purchases - Cost of Goods Sold= Ending Inventory
Find the balance sheet in the annual report, then look at the balance sheet date. For example, let's say the balance sheet date is dated December 31, 2021. The inventory listed in the balance sheet would be the ending inventory as of that date (December 31, 2021). The beginning inventory would be the inventory listed for the prior balance sheet date (the inventory listed as of December 31, 2020).
if we have given material inventries $40000 . closing inventory of material is 50%of opening inventory then closing inventory of material is ________. Answer: opening inventory=26667 closing inventory =13333 How ❓🤔 please 🙏 give me complete solution with formula
what if the beggining of inv was 1 and end inv was 1. this will mean that my inventory turns 14 700 times? that's stupid approach. I might bought something on the middle and sell it the next day. so my turnover will be 1 !, but because the time frames you will be unable to see it
I'm not understanding the theory behind why we divide cost of goods sold by inventory? Like i get it mechanically but not logically (I'm stupid) why are we diving those two things?
If you only know the inventory for a single point in time, then you can't calculate the average inventory and just need to use the inventory figure you have
I have a problem here: The net income of Slim Company substantially increased from P656,250 in 2008 to P1,890,000 in year 2009. Consequently, the rate of return on current assets increased from 25% in 2008 t0 30% in 2009. Likewise, current assets turnover increased to 2.87 turnover in 2009 from 2.45 turnovers in 2008. Required: compute the following in year 2009 1. average investment in current assets 2. the cost of goods sold and operating expenses including depreciation Can anyone help me to solve this?
TOUQEER KHAN you may take the current inventory and divide by the average units sold per day. In this way you gonna have the days on hand that means quite the same turn over math. 🇧🇷
