Cost of sales

Cost of Sales and Inventory JOIN KHALID AZIZ COACHING CLASSES ICMAP STAGE 1,2,3,4,5 ICAP MODULE A,B,C,D PIPFA BBA & MBA B.COM & M.COM ACCOUNTING OF O/A LEVEL MA-ECONOMICS 0322-3385752 KARACHI, PAKISTAN .

Types of Companies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Inventory Issues ,[object Object],[object Object],[object Object]

Inventories Definition ,[object Object]

Methods of Determining Amounts In Inventory ,[object Object],[object Object],[object Object]

Cost Flow Assumptions ,[object Object],[object Object],[object Object],[object Object]

Types of Companies/Inventories ,[object Object],[object Object],[object Object]

Types of Companies/Inventories (Continued) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Companies/Inventories (Continued) ,[object Object],[object Object]

Supplies ,[object Object],[object Object],[object Object]

Merchandise Companies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Methods of Accounting for Purchase (or cash) Discounts ,[object Object],[object Object],[object Object],[object Object]

Terminology ,[object Object],[object Object]

Relationship of Inventory and Cost of Goods Sold ,[object Object],[object Object],[object Object],[object Object]

Measurement Issue ,[object Object],[object Object],[object Object],[object Object]

Periodic Inventory Method ,[object Object],[object Object],[object Object],[object Object],[object Object]

Perpetual Inventory Method ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Retail Method ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Gross Profit Method ,[object Object]

Manufacturing Companies ,[object Object],[object Object]

3 Types of Manufacturing Inventory Accounts ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Flow Through Accounts ,[object Object],[object Object]

Raw Materials Inventory ,[object Object],[object Object]

Work in Process ,[object Object],[object Object]

Finished Goods ,[object Object],[object Object]

Product Costing Systems ,[object Object],[object Object]

Product Costs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Period Costs ,[object Object],[object Object]

Professional Service Firms ,[object Object],[object Object],[object Object]

Inventory Costing Methods (Cost Flow Assumptions) ,[object Object],[object Object],[object Object],[object Object]

Specific Identification ,[object Object],[object Object],[object Object]

Average Cost ,[object Object],[object Object],[object Object],[object Object],[object Object]

First-in, First-out (FIFO). ,[object Object],[object Object],[object Object],[object Object]

Last-in, Last-out (LIFO). ,[object Object],[object Object],[object Object],[object Object],[object Object]

LIFO Reserve ,[object Object],[object Object],[object Object]

Arguments for FIFO ,[object Object],[object Object],[object Object],[object Object],[object Object]

Arguments for LIFO ,[object Object],[object Object],[object Object]

Arguments for LIFO (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why Not More LIFO? ,[object Object],[object Object],[object Object],[object Object]

Lower of Cost or Market (LCM) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Upper and Lower Bounds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Steps in Applying LCM ,[object Object],[object Object],[object Object]

Analysis of Inventory ,[object Object],[object Object],[object Object],[object Object],[object Object]

Cost of sales

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