ACCT 2050 at University of Minnesota--Twin Cities

10. FIFO and LIFO

in Topic 5 (Video 10 of 11)
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FIFO and LIFO are the two most commonly used inventory costing methods. And they are also the only accounting terms that most people remember years later.

The Rest Of The Videos

1 COGS and Inventory 2:57
2 Net Sales 10:03
3 Perpetual vs Periodic 7:10
4 FOB Shipping? 8:51
5 Transportation In 8:41
6 COGS 6:18
7 Drawbacks to Periodic 6:07
8 Specific Identification 2:17
9 Weighted Average 4:21
10 FIFO and LIFO
You are here. 		20:17
11 Estimating with Gross Profit 7:23
Topic 6 →

Topic 5 Practice Problems

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1 Consignment Inventory Easy
2 FOB Destination Easy
3 Inventory Set Aside Easy
4 Loss On Inventory Easy
5 FOB Shipping Moderate
6 FOB Shipping Moderate
7 Inventory Costing Moderate
8 The Effect of Inventory Errors Hard
← Topic 4

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