Inventory (Merchandising Business) Cheat Sheet → https://accountingstuff.com/shop

In this video you'll find out what Inventory means and how to account for it in a Merchandising Business. We'll cover the link between Inventory in the Balance Sheet and the Revenue & Cost of Goods Sold accounts in the Income Statement. This episode is part of a miniseries exploring Inventory in Accounting. You can find the link to the whole playlist here ⬇

Full Inventory Playlist →    • Accounting for INVENTORY (MiniSeries)  

Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel

⏱TIMESTAMPS
00:00 Intro
00:55 Manufacturing vs Merchandising Businesses
01:23 Inventory in a Manufacturing Business
01:36 Inventory in a Merchandising Business
02:12 Why Inventory is an Asset
02:29 Inventory Worked Example Question
03:22 Inventory Worked Example Solution
08:41 Recap

CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → http://geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → https://geni.us/bNN7
▪ Xero (FREE TRIAL) → https://xeroamericas.grsm.io/ck90eoq1...

FAQ
▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m

FOLLOW ME ON
▪ Instagram →   / accountingstuff  
▪ TikTok →   / accounting_stuff  
▪ Facebook →   / thisisaccountingstuff  

LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whol...  
________________________
DISCLAIMER

Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________

#accounting #accountingbasics #accountingstuff