Bookkeeping Basics - Inventory
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Every tax preparer and accountant somewhere along the lines needs to have a fundamental basic understanding of bookkeeping in order to ensure they are using the correct numbers when preparing a tax return or otherwise presenting financial information to their client. Inventory Learn the basics of Inventory through a basic overview Discover methods of valuing inventory Understand the differences between Periodic and Perpetual (or Dynamic) inventory methods Learn how to code Inventory transactions using examples of FIFO, LIFO, and AVCO methods Understand how a computerized inventory system handles these same transactions
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