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@stavroskaragiannopoulos58432 жыл бұрын
Many thanks for the video.
@AccountingLectures2 жыл бұрын
You are welcome! Please visit my website for more resources farhatlectures.com/
@lingjiang68856 ай бұрын
Well explained video, thank you! I just have one question: at 27:48, when using LIFO, why do rising costs make COGS decreases? Isn't it increasing because we are using most recent inventories?
@JA-dv4vk3 жыл бұрын
Very helpful lecture. BTW, Jalol was here
@AccountingLectures2 жыл бұрын
Thanks and welcome. Here's my intermediate accounting course: farhatlectures.pathwright.com/library/?category=Intermediate+Accounting
@TooJaded3 жыл бұрын
Great video! Quick question though, how did we get $11,000 in the balance section @18:23?
@elprofetadeallah31493 жыл бұрын
the beginning inventory was 5000 units at a cost of $5.00, which is $5,000, in January 10th the company made a purchase of 1000 units at a cost of $6.00 (1000 units x $6.00 = $6,000.00) so the inventory available for sale in units is 6000 and inventory available for sale in USD is $11.000.00( beginning inventory $5000+ new purchase $6000= $11,000.00)
@markila2 жыл бұрын
@@Cesy-bg9ym I was confused when I saw that too. I think it may have been a typing error. That balance should be 31,000. Either way, as long as the (unit * unit cost) part is correct you should still get the correct amount for EI at the end
@saeedal-mitwalli2883Ай бұрын
@@elprofetadeallah3149 I was also confused, should it not be [ ($5 x 5000)+ ($6 x 1000)] = 31,000? How is inventory of 6000 units total less than when it was 5000.
@johnnyg3972 жыл бұрын
Professor you made a mistake in 28:15 if costs are rising under lifo cogs will be high net income low and lower taxable income
@AccountingLectures2 жыл бұрын
The arrow direction is incorrect. Higher COGS, Lower NI, and lower taxes. TY
@JacobBailey-df3iu Жыл бұрын
under the fifo perpetual how is the first 11,000 computed? I get every other number but that one is not adding up to me
@nadine32758 ай бұрын
I think it's supposed to be 31,000
@samkab6772 жыл бұрын
Professor how to deal with purchase return if any?
@AccountingLectures2 жыл бұрын
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