Many businesses are required to make some adjustments to their accounts at the end of the year in order to follow GAAP rules. One such adjustment is adjusting periodic inventory to physical inventory counts. In this video you will learn how periodic inventory adjustments are calculated and how to make the adjusting journal entry.
This video was created in relation to the Utah State CTE standards for the Accounting II High School course. Specifically, this video prepares students to complete Strand 6, Standard 1: Identify accounts to be adjusted and calculate adjustments.
