Perpetual vs Periodic Inventory System (Financial Accounting Tutorial #29)

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We contrast the perpetual inventory system and the periodic inventory system in this tutorial. The perpetual system is an inventory that constantly updates its inventory records to keep track of total inventory as well as the respective cost of goods sold expense. The periodic system is a system that requires inventory counts to determine how much inventory/inventory shrinkage and expense is all reported.
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[@mommaseay547]

We use periodic in our manufacturing facility to calculate how much raw materials we used to make our products. It is very simple. Beginning inventory plus purchases minus ending invenotry = usage.

[@crazyinsanitie]

Your amazing man thanks for the videos you helped me out!! keep up the good work

[@pearljanaracinthgregorio4655]

You're way better than my teacher! Good job! Thank you❣️

[@sadafm8757]

Good job explaining the topic. Really helpful!

[@charmaine9184]

thank you for this video you have me the answers I was looking for.

[@daarkangeel2193]

Thanks, you explained well.

[@jubrannatsheb7307]

you very amazing thanks

[@sharkyfromthebay8430]

I love your videos! Your explanations are clear and I rely on them more than the lectures at school. Thank you so much!

[@emmacooper853]

Good video! Thanks

[@musasuhail2691]

Your The Best..! 💜

[@monicalu9032]

The way you show equation is wrong. Beginning inventory plus gods purchased equals available goods. Available goods minus ending inventory equals cost of goods sold. You should make it separated.

[@joshuanete8586]

Shouldn't the COGS equation just be: [COGS = Beginning Inventory + Purchases - Ending Inventory]? The way the formula is presented [Beginning Inventory + Purchases = Available Goods - Ending Inventory = COGS] implies that [Beginning Inventory + Purchases = COGS]. Is this so?

[@joshuanete8586]

@@NotepirateDave Got it. Thanks for clarifying.

[@CLZynp]

it felt like a robot was talking for the entire 7 mins.

[@TSurroca22]

He says aboot, probably Canadian.

[@CMVB92]

Shame the quality of the sound is so horrible!! And where is your accent from? Just curious.

[@team6ixygo122]

Clara Van Biesebroeck hes Canadian haha

[@amandawilson9555]

not enough on perpetual to actually understand it. My book explains it better!