Hi

This Course enables to understand concept of Inventories.

This course consist of Pre recorded video lectures explaining concept and examples related to Inventory valuation.

The Course has one section and It Consists of 5 lectures. The video lectures explain following concepts :

• Meaning and explanation of concept of Inventory and Stock .

• Meaning and Need for inventory valuation / Stock valuation.

• Meaning and explanation of Concept of COGS (Cost of Goods sold)

• Methods of Valuation of Inventory- It includes explanation of terms like Cost of Inventory and what is included in cost of inventory, Meaning of NRV (Net realizable value ).

• Various systems to record inventories. This includes periodic inventory system and perpetual inventory system- Explanation of concept and Solved example showing calculation of inventory with both the methods

• Methods to determine cost of Inventory - Historical method of determining cost of inventory, Non historical method of determining cost of inventory

• Inventory Taking and Inventory recording systems

• Explanation of Historical method of determining cost of inventory in detail. This includes Specific identification method, FIFO method (First In First Out method) , LIFO(Last in First out method), Simple average method, Weighted average method

• Explanation of Non Historical Method of determining cost of inventory in detail. This includes Adjusted Selling Price method, Standard Cost method

Happy Learning

Vanijyavidya