acct2301 at UT Arlington

5. COGS

in Chapter 4 (Video 5 of 7)
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How can we figure out COGS under the periodic inventory system? By making up a formula, of course.

This Video Mentioned Some Formulas

Beginning Inventory
+ Net Purchases
– Ending Inventory
COGS
Beginning Inventory
+ Net Purchases
– COGS
Ending Inventory
Sales Revenue
– Sales Returns and Allowances
– Sales Discounts
Net Sales
Purchases
– Purchase Returns and Allowances
– Purchase Discounts
Net Purchases
+ Transportation In
Cost of Goods Purchased

The Rest Of The Videos

1 COGS and Inventory 2:57
2 Net Sales 10:03
3 Perpetual vs Periodic 7:10
4 Transportation In 8:41
5 COGS
You are here. 		6:18
6 Drawbacks to Periodic 6:07
7 Estimating with Gross Profit 7:23
Chapter 5 →

Chapter 4 Practice Problems

Click Here to View All Chapter 4 Problems at Once View
1 Loss On Inventory Easy
2 The Effect of Inventory Errors Hard
← Chapter 3

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