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Inventory and the Cost of Goods Sold

This lesson discusses the accounting treatment of inventory: how to value inventory on the balance sheet, inventory as an expense (the cost of goods sold), and different methods of determining the cost of goods sold. It does not cover the lower-of-cost-or-market rule, which is dealt with in a separate lesson.

Lesson Completion Time

45 minutes
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Lesson Authors

Lesson ID

ACCT07