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Inventory with VAT | Journal Entries | Periodic Inventory System

In this accounting lesson, we explain and go through examples of inventory and Value Added Tax (VAT) where we do the journal entries under the periodic inventory system. We go through transactions where we bought inventory using cash, where we sold inventory and recording inventory after physical stocktaking. In our journal entry, we account for inventory, bank, sales, cost of sales, Value Added Tax (VAT) using the periodic inventory system. Timestamps Inventory with VAT journal entries using the periodic inventory system: 00:00 VAT (Value added tax) definition / meaning: 00:42 Input VAT definition explained: 01:15 Output VAT definition explained: 01:49 Inventory with VAT journal entry examples: 02:50 Inventory purchase with VAT journal entry using the periodic inventory system: 04:36 Inventory sold with VAT journal entry using the periodic inventory system: 07:43 Closing inventory using Periodic inventory system journal entry: 14:28 Debits & Credits in Accounting | Journal Entries Examples | Accounting Basics:    • Debits & Credits in Accounting | Jour...   Simple Formula for Calculating Percentages | Want over Have Formula:    • Simple Formula for Calculating Percen...   Inventory Explained:    • Inventory Explained   Inventory with VAT | Journal Entries | Perpetual Inventory System:    • Inventory with VAT | Journal Entries ...   Inventory Journal Entries | Perpetual Inventory System | Explained with Examples:    • Inventory Journal Entries | Perpetual...   Periodic Inventory System Explained with Journal Entry Example:    • Inventory Journal Entries Example | P...   Sales On Credit - Perpetual Inventory System Journal Entry:    • Sales On Credit - Perpetual Inventory...   FIFO (First-In-First-Out) Method - PERPETUAL Example:    • FIFO (First-In-First-Out) Method - PE...   First In First Out (FIFO) | PERIODIC Example:    • First In First Out (FIFO) | PERIODIC ...   Weighted Average Inventory Costing | PERPETUAL Example:    • Weighted Average Inventory Costing | ...   LIFO Method Accounting - Perpetual:    • LIFO (Last-In, First-Out) Method Acco...   Check out other straight-forward examples on our channel. We also offer one-on-one tutorials at reasonable rates. Connect with us: Email: [email protected] Our Website: https://Counttuts.com Our Facebook Page:   / counttuts   Support our Efforts:   / counttuts