Inventory Valuation Complete Chapter | CA Foundation Accounts Chapter 4 As Per ICAI New Scheme

Inventory Valuation Complete Chapter | CA Foundation Accounts Chapter 4 As Per ICAI New Scheme | ICAI | inventory valuation | inventory valuation ca foundation

In This Video, We Will Discuss Inventory Valuation All Concepts, Problems and Examples of CA Foundation Accounts and CA Foundation Accounts Chapter no 4 has been Discussed By Chandan Poddar Sir For CA Foundation Grooming Education in association with Escholars.

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FIFO method
LIFO method
Weighted average method
Periodical vs perpertual inventory system
Impact of inflation and deflation under fifo and lifo method
Adjusted selling price method
Inventory valued before or after end of accounting year
Cost or net relisable value whichever is lower

Time Stamp:
0:00 Intro
0:15 Inventory Valuation
2:20 Methods of Inventory Valuation
8:35 FIFO Method
19:23 LIFO Method
27:26 Weighted Average Method
33:58 Simple Average Method
36:18 Perpetual Inventory System VS Periodical Inventory System
50:34 Basic + Most Important Concept
1:05:28 Adjusted Selling Price Method
1:20:11 Question

Inventory valuation is the monetary amount associated with the goods in the inventory at the end of an accounting period. The valuation is based on the costs incurred to acquire the inventory and get it ready for sale.

Inventories are the largest current business assets. Inventory valuation allows you to evaluate your Cost of Goods Sold (COGS) and, ultimately, your profitability. The most widely used methods for valuation are FIFO (first-in, first-out), LIFO (last-in, first-out) and WAC (weighted average cost).

Inventory refers to the goods meant for sale or unsold goods. In manufacturing, it includes raw materials, semi-finished and finished goods. Inventory valuation is done at the end of every financial year to calculate the cost of goods sold and the cost of the unsold inventory.

Determine the Gross Income
Inventory is used to find the gross profit, which is the excess of sales over cost of goods sold. To determine the gross profit or the trading profit, the cost of goods sold is matched with the revenue of the accounting period.
Cost of goods sold = Opening stock + Purchases – Closing stock

There are four accepted methods of inventory valuation.
Specific Identification
First-In, First-Out (FIFO)
Last-In, First-Out (LIFO)
Weighted Average Cost

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