Accounting for inventory

In the July issue of PQ magazine top tutor, Karen Groves, explains a subject that all AAT studiers must me familiar with – accounting for inventory.

What do you do with raw materials and goods that are held for resale? Remember inventory is a current assets and must be included in the financial statements to reflect this.

Check out Karen’s examples and have a go at the question. See The AAT’s tutor of the year writes in every issue, so sign up for your free monthly subscription at