Chapter 18 by https://padlet.com/whitney_ramsey45925/jzls897dpwjn Made with magic en-us 2018-09-29 19:08:20 UTC 2018-09-29 19:20:49 UTC hello@padlet.com Specific identification methods whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246633 This method calculates the cost of ending inventory by identifying each item remaining to invoice ]]> 2018-09-29 19:10:03 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246633 Calculating the specific identification method whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246737 step1- calculate the cost of goods
step2- calculate the cost of the ending inventory
step3- calculate the cost of goods sold

]]> 2018-09-29 19:11:27 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246737 cost of goods available for sale- cost of ending inventory= cost of goods sold whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246822 2018-09-29 19:12:44 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246822 Weighted average method whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246872 calculates the cost of ending inventory by applying an average unit cost to items remaining in inventory for that period of time ]]> 2018-09-29 19:13:22 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246872 calculating the weighted average whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246968 step 1- calculate the average unit cost
step2- calculate the cost of the ending inventory 
step3- calculate the cost of goods sold ]]> 2018-09-29 19:14:38 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287246968 FIFO whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247038 method assumes the first inventory brought into the store will be the first sold. Ending inventory is made up of goods most recently purchased]]> 2018-09-29 19:15:46 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247038 Calculating FIFO whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247139 step1- list the units to be included in the ending inventory and their costs 
step2- calculate the cost of the ending inventory 
step3-calculate the cost of goods sold.

]]> 2018-09-29 19:16:50 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247139 LIFO whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247266 Method assumes the last inventory brought into the store will be the first sold.]]> 2018-09-29 19:18:10 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247266 Calculating LIFO whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247315 step 1- List the units to be included in the ending inventory and their cost 
step 2- calculate the cost of the ending inventory
step3- calculate the cost of goods sold ]]> 2018-09-29 19:18:55 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247315 Gross profit methods whitney_ramsey45925 https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247435 used to estimate value of inventory ]]> 2018-09-29 19:20:31 UTC https://padlet.com/whitney_ramsey45925/jzls897dpwjn/wish/287247435