Inventory accounting records in the selected accounting entity

This Bachelor thesis is focused at accounting of a selected accounting entity . It is goal is to apply methods of inventory accounting to the selected accounting entity with utilization of the theoretical tenets. The thesis consists of two parts (i) Theoretical {--} concerned with inventory in general i.e. characteristics, scope, evaluation and accounting approaches and stocktaking (ii) Applied - description of the selected accounting entity its business objectives, methods of evaluation and accounting. The business objectives of the selected accounting entity is purchasing and sales of goods whilst it uses a stock and retail chain. Inventory recording and accounting takes place depending on the point of realization in two ways: at purchasing prices or at sales prices. Throughout the selected accounting entity all inventory is evaluated using the FIFO method