Google Sheets-Accounting Inventory Costs–Example Problems
4.6 (5 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
600 students enrolled

Google Sheets-Accounting Inventory Costs–Example Problems

Inventory cost flow assumptions with FREE Google Sheets Spreadsheet - First In First Out (FIFO), Last In Firs Out (LIFO)
4.6 (5 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
600 students enrolled
Last updated 9/2018
English
English [Auto]
Current price: $23.99 Original price: $34.99 Discount: 31% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 3.5 hours on-demand video
  • 6 articles
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
Training 5 or more people?

Get your team access to 4,000+ top Udemy courses anytime, anywhere.

Try Udemy for Business
What you'll learn
  • Inventory Costing
  • First In First Out (FIFO) cost flow method
  • Last In First Out (LIFO) cost flow method
  • Weighted average cost flow method
  • Periodic inventory method
  • Perpetual inventory method
Requirements
  • We should have a basic understanding of financial accounting and debits and credits.
Description

This course will only provide the practice Google Sheets problems component of our resources, so that learners can review the practice problem material without being distracted by other resources.

Google Sheets is a free spreadsheet program very similar to Microsoft Excel. We have uploaded our worksheets to Google Sheets so that more people can access them.

To use Google Sheets, we just need to set up a Google account, which is done by creating a Google e-mail account. The process is free.

We cover inventory costs and cost flows, including what is included in the cost of inventory and how to account for inventory freight costs, inventory insurance costs, and discount. We also discuss inventory flow assumptions including specific identification, first in first out (FIFO), last in first out (LIFO), and weighted average methods. FIFO, LIFO and weighted average methods will be discussed using both a periodic inventory system and a perpetual inventory system. 

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.

Summary of what will be covered: 

  • Inventory Tracking methods

    • Specific identification method

    • First in first out (FIFO) method

    • Last in first out (LIFO) method

    • Weighted average method

  • Inventory costs     

    • Fright       

    • Insurance       

    • Purchase discounts       

  • Periodic system verses a perpetual system. 

    • We discuss FIFO, LIFO, and weighted average under each       system. 

Who this course is for:
  • Accounting students
  • Business owner
  • Anyone who whats to learn accounting
Course content
Expand 16 lectures 03:28:10
+ Introduction
16 lectures 03:28:09
Google Docs Worksheet 10 Periodic FIFO
00:27
20 Worksheet Last In First Out (LIFO) Periodic System
44:44
Google Docs Worksheet 20 Perpetual LIFO
00:27
30 Worksheet Weighted Average Periodic System
49:22
Google Docs Worksheet 30 Perpetual Ave
00:27
Google Docs Worksheet 40 Perpetual FIFO
00:27
50 600.20 Inventory Cost Problem First In First Out part 2 Ex.%2C how to calcula
12:05
60 600.50 Cost Problem Last In First Out LIFO part 1 Ex.%2C how to calculate-Acc
10:02
Google Docs Worksheet 60 Periodic LIFO
00:27
70 600.60 Cost Problem Last In First Out LIFO part 2 Ex.%2C how to calculate-Acc
10:09
80 600.30 Inventory Cost Problem Average method Part 1 Ex.%2C how to calculate-A
10:01
Google Docs Worksheet 80 Periodic AVE
00:27
90 600.40 Inventory Cost Problem Average method Part 2 Ex.%2C how to calculate
08:47