How Do You Find Beginning And Ending Inventory?
Beginning inventory can be found by taking the ending inventory from the previous accounting period and adding any new inventory purchases during the current accounting period. Ending inventory, on the other hand, can be found by subtracting the cost of goods sold during the accounting period from the beginning inventory plus any new inventory purchases. Alternatively, ending inventory can also be determined by physically counting all unsold and unreturned inventory items on hand at the end of the accounting period and valuing them at their cost or market value.