If you sell merchandise or manufacture products, you depend on selling your inventory to earn revenue. To know your gross profit, you must track your sales and the cost of goods sold, or COGS.

At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. In accounting, inventory represents a company's raw ...

Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry. With over a decade of editorial experience, Rob Watts ...

If you’ve ever looked at a balance sheet and immediately wanted to slam your laptop shut, you’re not alone. Most business owners don’t come from accounting backgrounds, and the sheer volume of numbers ...

A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...

When you want to know a company’s financial health, it helps to look at its balance sheet. But if you’ve never seen a balance sheet before or don’t know how to read one, all you’ll see is a collection ...