BUS103: Introduction to Financial Accounting

This video, and the others that follow, will help you understand the calculations involved in inventory valuation. The differences between LIFO, FIFO, Average Cost and Specific Cost may seem difficult to grasp, but the videos will lay them out in an easy to follow, concise manner. Watching them should also help you with the practice problems at the end of the unit. This first video will introduce the four main inventory costing methods.