by Majestic | May 25, 2021 | Bookkeeping
And to calculate the ending inventory, the new purchases are added to it, minus the exact cost of goods sold. Under the LIFO cost flow assumption, the latest (or most recent) costs are the first ones to leave inventory and become the cost of goods sold on the income...
by Majestic | Nov 13, 2020 | Bookkeeping
With the rising cost of raw materials, these outgoings need to be minimised as much as possible while retaining a high-quality product to keep loyal customers and attract new ones. Manufacturing businesses must prepare a manufacturing account as part of their internal...
by Majestic | May 28, 2020 | Bookkeeping
In this module, you will learn how bookkeepers using accounting software to record transactions. You will also further your understanding of the accounting cycle by learning how to create trail balances and produce financial statemnets. Bookkeeping is the ongoing...