W4 Discussion -Inventory Methods

Each week, you will be asked to respond to the prompt or prompts in the discussion forum. Your initial post should be 75-150 words in length, and is due on Sunday. By Tuesday, you should respond to two additional posts from your peers. 

Organizations utilize at least one inventory method (FIFO, LIFO, or weighted-average) to calculate their cost of goods sold and ending balance of inventory. Find an article that discusses a business that utilizes one of the three inventory methods or provide a real-life example. Then, share with the class the selected example’s inventory method and the method’s characteristics. Go to at least two other colleagues’ posts that present the other type of basic accounting method and share the differences between your selected example’s method and the colleague’s selected example’s method.

View your discussion rubric