Debit vs credit accounting: The ultimate guide
Twitty’s Books began its 2018 fiscal year with $330,000 in sellable inventory. By the end of 2018, Twitty’s Books had $440,000 in sellable inventory. The average cost method, or weighted-average method, does not take into consideration price inflation or deflation. Instead, the average price of stocked items, regardless of purchase date, is used to value …