Live Webinar

GAAP Inventory Methods

Webinar Details $219

  • Webinar Date: July 29, 2021
  • Webinar Time: 2:00pm - 3:40pm EDT   live
  • Webinar Length: 100 Minutes
  • Guest Speaker:   Chuck Borek
  • Topic:   Taxation and Accounting
  • Credit:   CPE 2.0
All Access Membership

While users of financial statements understandably focus on “bottom line” net profit figures, net profits derived from net income and the method used to account for inventory has a direct bearing on net income. Thus, both issuers and users of financial statements need to understand the various options available for valuing inventory under existing GAAP. In this webinar we will discuss:

  • The relationship between inventory, value and gross margin
  • Perpetual vs. Periodic inventory systems
  • The basic inventory costing methods: FIFO, LIFO and Weighted Average
  • Factors to consider in choosing an inventory valuation system
  • Dollar-Value LIFO systems
  • The significance of the LIFO reserve account

Guest Speaker

  • Chuck Borek