Category Archives: Bookkeeping

What’s Debit Memo ?

Then enter the data in an accounting system like QuickBooks or Excel. This can be carried out right away by guide entry or later with other documents, relying on the explanation for the debit memo. It Is essential for consumers and sellers to keep accurate data in case there’s a dispute about whether or not…

How to Calculate FIFO Cost of Goods Sold Step by Step

She earned her BA from Wheaton College and gained valuable experience in healthcare logistics before focusing on ecommerce fulfillment content strategy. Using FIFO, the COGS would be $1,100 ($5 per unit for the original 100 units, plus 50 additional units bought for $12) and ending inventory value would be $240 (20 units x $24). Here…