This eBook introduces online craft sellers to the absolute basics of inventory in an easy to understand way, giving you the knowledge you need to finally get your inventory, costs, and taxes under control.
Table of contents
Why do I need to track my inventory?
Stock level management
Shrinkage and loss control
Financial and Tax calculations
Supplies and Materials
Direct and Indirect Expenses
Methods of Valuing Inventory
The FIFO Method
The LIFO Method
The Rolling Weighted Average Method
Which inventory method to choose?
What is COGS?
Perpetual vs. Periodic Tracking
End of Year (EOY) Stocktaking
The Cycle Count
What to do when you find a stock discrepancy
Tips for getting into the cycle count groove