Inventory Accounting – LIFO FIFO Weighted Average Digital Activity Introduction Lesson

Description

This Inventory Accounting digital resource is an excellent way to introduce or reiterate inventory valuation methods in your Accounting, Intro to Business or Entrepreneurship, or School Store class!

Students discover key components of inventory accounting and use CRITICAL THINKING SKILLS to assess the best uses for each type. This lesson is not a unit, but an introduction and a great start for discussion on the topic of inventory.

Concepts learned:

• What is Inventory Accounting?
• Three stages of production
• Factors that can change the value of inventory
• GAAP requirements of inventory valuation
• Main inventory methods: Weighted average, LIFO, and FIFO

This NO PREP digital activity is GREAT for a SUB DAY as the students can be completely independent in completing. Also great for REMOTE LEARNING!

Related Product:

Inventory Management Digital Activity