Backing into Inventory and Budget Balances

https://vimeo.com/356749538 Falene Young talks about FIFO and LIFO which are two types of inventory valuation methods. This clip is from the accounting tutoring lab.

https://vimeo.com/356749706 Falene Young talks about the accounting equation in this accounting tutoring lab. Assets=liabilities+Stockholder’s Equity is the basis for all accounting, meaning that the equation

https://vimeo.com/356749630 Falene Young talks about recording transactions on a tabular summary. Firstly, you must use the assets=liabilities+stockholders’ Equity in this accounting tutoring lab.