All accounting entries need to be tagged to general ledger accounts. A chart of accounts (COA) is a list of all such general ledger accounts. It contains details of each individual general ledger account including 'Account Code', 'Account Name', 'Account Type', and 'Account Balance'.| Deskera Blog
Cost of Goods Sold = (Beginning Inventory Value - Ending Inventory Value) + Total Inventory Purchases + Direct Costs. Learn with FIFO & LIFO examples| Deskera Blog
FIFO stands for First In First Out. FIFO in inventory valuation means the company sells the oldest stock first and calculates the COGS based on FIFO.| Deskera Blog