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 discounts. 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. In addition to instructional video, this course will include: Updated (2020) • Downloadable PDF Files • Excel Practice Files • Short Calculation Practice Questions The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships. Short calculation questions help us reduce problems that have some calculation down to a short format.