acct209 at Texas A&M

13. FIFO and LIFO

in Chapters 5 & 6 (Video 13 of 14)
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FIFO and LIFO are the two most commonly used inventory costing methods. And they are also the only accounting terms that most people remember years later.

The Rest Of The Videos

1 The Multistep Income Statement 12:44
2 Gross Profit vs Net Profit 6:15
3 Profit Margin 3:22
4 Net Sales 10:03
5 COGS and Inventory 2:57
6 Perpetual vs Periodic 7:10
7 FOB Shipping? 8:51
8 Transportation In 8:41
9 COGS 6:18
10 Drawbacks to Periodic 6:07
11 Specific Identification 2:17
12 Weighted Average 4:21
13 FIFO and LIFO
You are here. 		20:17
14 Estimating with Gross Profit 7:23
Chapter 8 →

Chapters 5 & 6 Practice Problems

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1 Consignment Inventory Easy
2 FOB Destination Easy
3 Inventory Set Aside Easy
4 Loss On Inventory Easy
5 FOB Shipping Moderate
6 FOB Shipping Moderate
7 Inventory Costing Moderate
8 Calculating Operating Income Hard
9 The Effect of Inventory Errors Hard
← Chapter 4

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