Handling inventory in Xero
How to manage inventory- FIFO, LIFO, AVCO - Small Business Guides - Xero
Learning how to manage inventory is an important part of running a business. Managing inventory (also known as stock) properly includes choosing an inventory valuation method; this video gives an overview of the first-in-first-out (FIFO), last-in-first-out (LIFO), and average cost (AVCO) methods. You’ll also learn the difference between periodic and perpetual inventory management systems. Ready to get started with managing inventory? Start here!
What is inventory Why do inventory accounting - Small Business Guides - Xero
What is inventory? Why is it important to account for inventory? Inventory accounting can help your business save money AND increase profits. This video covers what inventory is, what it isn’t, and covers several of the benefits of accounting for your inventory properly. If you’ve ever had too much stock on hand or worse, run out right when sales were booming… this video is for you!