The beginning inventory will be the amount of inventory leftover from the previous time period, which could be a month, quarter, or year. Beginning inventory is your merchandise, including raw materials, supplies, and finished and unfinished products that were not sold in the previous period.
Keep in mind that your beginning inventory cost for that time period should be exactly the same as the ending inventory from the previous period.
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"Yeah, I'm a thrill seeker, but crikey, education's the most important thing. " ~ Steve Irwin
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