Beginning inventory is the book value of a company’s inventory at the start of an accounting period. It is also the value of inventory carried over from the end of the preceding accounting period.

There are two main types of business. These are businesses that deal in products and businesses that deal in services. All other types of businesses are a mix of one of these two. Think about it, as a ...

Unless you're first starting your business, you'll almost always start an accounting period with inventory that you purchased during a preceding period. And unless you're liquidating your company, you ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...