💥Inventory (Merchandising Business) Cheat Sheet → 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 mini-series exploring Inventory in Accounting. You can find the link to the whole playlist here ⬇️
🔗Full Inventory Playlist → • Accounting for INVENTO...
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⏱️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
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