Retail Inventory Method

In this session, I discuss retail inventory method.
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[@petiuxsantos8476]

Thanks for this lecture sir. I have a question regarding downstream sale of inventory. What is the effect of downstream sale of inventory to the consolidated sales, cost of goods sold and inventory if no eliminating entries were made?

[@sharmintamanna6497]

Thank u sir..from Bangladesh

[@AccountingLectures]

Thank you and please visit the website for more
farhatlectures.com/

[@MrsGG-id1os]

@@AccountingLectureswhy do “abnormal shortages” REDUCE the cost column? Was the company CREDITED for this shortage by the vendor?
Otherwise, to me personally, it would make more sense to add these shortages along with the other costs to INCREASE the cost column rather than decreasing it.

[@maggiebonilla5688]

Thank you! Please review the totals as their not adding correctly. In last example total cost should add to $19,700. This will change all the results.

[@AccountingLectures]

Hi Maggie, I will review and take the appropriate action.

[@maggiebonilla5688]

@@AccountingLectures Thank you for all your videos. I started taking Intermediate Accounting and Managerial Accounting remote to complete my Master. Your videos are using the same slideshows of my class. I am grateful of your videos. I noticed the videos got moved. Where can I find them now?

[@raadmohammed4962]

​@@maggiebonilla5688 plus there is other correaction thwe sum for retail will be 32,200 not 30,000.

[@nehanitnaware7057]

Sir, I understand very well what you have taught but sir how to study AUD, REG, and BEC is also important isn't it ?

[@AccountingLectures]

Most welcome. Please take a look at my website: farhatlectures.com/ then choose your course.

[@samkab677]

Can this be used if we have different products with different percentages? What best method to use then ? Can someone help please?

[@HuyNguyen-vg5wz]

How to writing down for the journal entry of this

[@AccountingLectures]

You don't have to update your book (record)

[@NidhinCMA]

sr the totals are not correct