In this section, we’ll explain the accounting  of inventory and its relationship with cost of goods sold. By the end of this section, you’ll be able to develop sound concepts related to accounting of inventories including inventory valuation techniques and inventory record keeping systems.

Following chapters are included in this section:

1. Introduction to inventory
2. Inventory valuation methods
3. Periodic and perpetual inventory systems
4. Lower of cost and NRV accounting
5. Slow-moving inventory and obsolete inventory
6. Inventory ageing analysis
7. Estimating inventory
8. Gross profit method of estimating inventory
9. Retail method of estimating inventory