Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
If the inventory is fiananced it is debit... If you own it is credit...
Debit
debit
DEBIT
credit
Debit
debit buddy
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
No, inventory is an assets, which normal balance is a debit.
credit inventory, debit cost of good sold.
Debit Accounts Receivable 2000 Debit Cost of Goods Sold 1000 Credit Sales 2000 Credit Inventory 1000
[Debit] Purchases [Credit] Cash / bank / accounts payable