Cost of Goods Sold Overview: Study Sheet

This Smartacus Study Sheet will help you to understand how to find cost-of-goods-sold and the value of inventory. Explore definitions and methods (including Average Cost Method, LIFO, and FIFO). It also prints for easy reference. Continue reading

Variable Costs

Variable costs are expenses that increase or decrease as a direct result of increases or decreases in sales or production volume. Learn more about variable cost in this tutorial. Continue reading

Fixed Costs

Fixed costs are defined as any cost or expense that does not vary with changes in the level of business activities like sales or production. Learn more about fixed cost in this tutorial. Continue reading

Income Statement – Multi-Step

Learn about the structure and contents of a multi-step income statement by examining one for the fictitious company Bogus Manufacturing, Inc. Continue reading

Inventory Value Study Sheet

Use this Smartacus Study Sheet to understand how to find the value of inventory and cost-of-goods-sold. Explore definitions and methods (including Average Cost Method, LIFO, and FIFO). It also prints for easy reference. Continue reading

Inventory Value: LIFO

Use this Formula Solver! Series program to learn how to calculate Inventory Value with the LIFO Method. It’s great for checking your homework answers, too! Continue reading

Inventory Value: FIFO

Use this Formula Solver! Series program to learn how to calculate Inventory Value with the FIFO Method. It’s great for checking your homework answers, too! Continue reading

Inventory Value: Average Cost Method

Use this Formula Solver! Series program to learn how to calculate Inventory Value with the Average Cost Method. It’s great for checking your homework answers, too! Continue reading

Cost of Goods Sold: LIFO

Use this Formula Solver! Series program to learn how to calculate Cost of Goods Sold with the LIFO Method. It’s great for checking your homework answers, too! Continue reading

Cost of Goods Sold: FIFO

Use this Formula Solver! Series program to learn how to calculate Cost of Goods Sold with the FIFO Method. It’s great for checking your homework answers, too! Continue reading