was literally sitting here crying about accounting and your video saved me thank you
@Edspira2 жыл бұрын
Don't give up, you can do it!
@rubenmen6051 Жыл бұрын
I have been struggling to try to understand this the past week, and with just this video it all makes sense...
@Church2Mosque5 жыл бұрын
I love how you explain things, thank you.
@MyFinancialFocus2 жыл бұрын
I love creative accounting methods like these.
@nneno23762 жыл бұрын
THANKS THAT IS HELPED ME ALOT IN MY ASSESSMENT
@Edspira2 жыл бұрын
Thank you!
@samh.718810 ай бұрын
January 6th, 2021. This man has some insane foresight.
@anthonyhendricks273 жыл бұрын
Subscribed! Thank you for this well explained video.
@Edspira3 жыл бұрын
Awesome, thank you!
@ishratjahan17034 жыл бұрын
Thanks for your amazing explanation!!
@bilalkazi55242 жыл бұрын
Thank you! Got the concept.
@sciencemagazine18353 жыл бұрын
Detailed explanation😌
@xyfo87845 жыл бұрын
I learned a lot from this video, thank you. I have a question: when you do the physical count, you can get the quantity of the inventory but not the value of the inventory. Could you please explain how did you get the value($1600) for ending inventory?
@Edspira5 жыл бұрын
If you purchased the inventory, then the ending inventory would be what you initially paid for it. If you are making/producing the inventory, then your ending inventory will be: new purchases + beginning inventory - cost of goods sold = ending inventory I have a video on calculating Cost of Goods Sold if you need extra guidance: www.edspira.com/topic/cost-goods-sold/ Great question!
@gb62615 жыл бұрын
well explained, thank you
@growdaddy428111 ай бұрын
Had to make a stop into DC to get those accounting board games on January 6 2021
@mohammedullah10225 жыл бұрын
Show the general ledger accounts for inventory, purchases etc
@shortscreation79203 жыл бұрын
How To find Sale when Is Not Given
@connornicholas86284 жыл бұрын
If I have multiple sales, which one do I start with when calculating cost of goods sold in a scenario like this? Is it the one that happened the most recently, or the earliest one?
@James-ip5gz3 жыл бұрын
The earliest one
@connornicholas86283 жыл бұрын
@@James-ip5gz Thanks!
@mahirhoq7465 жыл бұрын
Thanks, but I have a question how do you get $10 for 40 units in the ending inventory system?
@pkmkid844 жыл бұрын
Doing the math, you see that GAFS (Goods Available for Sale) is 75 units (i.e. 20 + 30 + 25 = 75). Also, we know that 40 units sold, so there are 35 units left (i.e. 75 - 40 = 35). Under FIFO, all that remains are the most recent purchases for ending inventory, thus $1,600 (i.e. 25 * 50 + 10 * 40 = 1600).