#VideosIWish: Inventory Costing Methods

Submitted by Bismark Appiah on Sun, 09/07/2014 - 8:44pm.

In Accounting, Inventory is considered an asset. As a result, proper methods are used to assign costs to inventory. The three methods used to assign costs to inventory are LIFO, FIFO, and Average Cost. LIFO simply means Last in, First out. FIFO means First in, First Out and Average Cost is the weighted average cost of the inventory.

The FIFO method (First in, First out), states that items bought first are sold first. Due to rising prices in the economy, selling the first items in inventory tends to lower the Cost of Goods Sold and generate more profit, as shown in the Vialogues below. On the contrary, the LIFO method (Last in, First out), states that items bought last are sold first. By selling the last items first, Cost of Goods Sold tend to increase, which leads to lower profits. Consequently, many companies have shunned from using the LIFO method. Please feel free to watch this Vialogues and ask any question.

Globalization and Inequality

Submitted by Ahmed Bagigah on Sat, 09/06/2014 - 1:34am.

A lot of economic theories states that globalization will promote less inequality in developing nations. Although globalization is closing the gap between developed and developing countries, inequality is still a major issue. A recent report notes that inequality in Africa and China has increased; this proves that although the countries are growing, only a few people are benefiting. This is the theory that states that comparative advantage will benefit unskilled workers in developing nations by allowing them to gain higher wagers, which will limit inequality.

The aforementioned article also mentions a report by the Organization of Economic Co-operation and Development (OECD), which argued that higher wages in developing countries are geared towards skilled workers. This is due to most foreign companies paying 40% higher than local companies. Additionally, these companies have a preference for skilled workers, who represent a small percentage of the population.

EdLab Chosen to Present @ NYC Media Lab's Annual Summit

Submitted by Kate Meersschaert on Fri, 09/05/2014 - 5:09pm.

You heard it here first! EdLab was chosen by a panel of judges to present our work with both Vialogues.com and NewLearningtimes.com at NYC Media Lab's Annual Summit on September 19th at the New School! The focus of this year's Summit is on, "the best thinking, projects, and talent in digital media across the City’s universities." And is uniquely focused on:

demonstrations that explore interesting technologies and applications related to digital media and communications, encompassing data, video, mobile, interfaces, and interactive design.

Stay tuned for more details soon and be on the lookout for an upcoming NL Sector article on NYC Media Lab in NewLearningTimes.com!

Outreach Opportunity: ArtsEdTechNYC

Submitted by Brian Sweeting on Fri, 09/05/2014 - 10:47am.

My favorite EdTech meetup is back on Wednesday with a stellar panel moderated by Leah Gilliam, the director of Hive NYC Learning Network.

Featuring:

Brian Cohen, Co-Director, Beam Center
Hillary Kolos, Director of Digital & Teen Programs, DreamYard Project
Chris Wisniewski, Deputy Director for Education & Visitor Experience, Museum of the Moving Image

It starts at 6pm on Wednesday at the Apple Store in Soho. Let me know if you're interested in joining and RSVP here.

Also, Jessica Wilt, founder of the ArtsEdTechNYC Meetup and friend of EdLab, is fighting cancer. You can follow her updates and support her here.

Experience the power of a bookbook™

Submitted by Luke Malone on Fri, 09/05/2014 - 8:11am.

Everything you've ever wanted in an tablet.

Teacher and Student Communication Made Easier Through New App

Submitted by Khalil Abubakar on Thu, 09/04/2014 - 2:29am.

Ever sent your professor or teacher an email regarding an important issue but it takes them forever to reply? Remind might offer a solution to this problem. The app allows students to communicate with their teachers through a text and is fast becoming one of the top education apps. It allows teachers to remind students of class activities, especially assignment due dates. Messages come with a reply stamp that puts restrictions on which messages to reply to. Teachers can create take home quizzes and parents have access to their child's attendance and other information. This app is a big step because it makes it easier for teachers to organize messages from students in one place.

The Floating Library!

Submitted by Dana Haugh on Wed, 09/03/2014 - 2:36pm.

Hi everyone!

As you may have heard, from Sept. 6 - Oct. 3 the historic Lilac Museum Steamship will be host to a Floating Library! That's right--a steamship that's been transformed into a library! This pop-up space is free and open to the public, the only stipulation is that visitors power down their mobile devices before boarding to "encourage visitors to be more engaged with their surroundings."

Laura and I will be volunteering throughout the month and encourage everyone to stop by for this unique experience!

The ship will be docked on Pier 25 along the Hudson River and will feature twenty roundtables, performances and workshops that will shine a spotlight on maker culture, DIY politics, sustainability issues and community engagement.

EdLab Seminar: Breaking the Sound Barrier - The Muse Seek Project, 09.03.14

Submitted by Kate Meersschaert on Wed, 09/03/2014 - 11:26am.

Please add your thoughts to the vialogue embedded below. And explore the original blog post to learn more about this event.

Will the College of the Future have a Membership Model?

Submitted by Kate Meersschaert on Wed, 09/03/2014 - 10:30am.

EdSurge guest author and "envisioner", Sean Brennan, explorers his version of Higher Ed's not-so-distant future in this EdSurge article. I have taken the liberty of sharing some of my takeaways and highlights from this article below. Do you agree with Brennan's take both on Higher Ed and Generation Z? Overall, it seems that the college of the future may, if Brennan is right, more resemble a startup or design firm than the traditional college of yore.

Thoughts from Brennan's piece:

  • Outdoor spaces at colleges are underutilized as learning spaces and have the potential to give learners a "maker" experience in crafting a custom environ
  • Higher Ed programs need to collaborate and mimic cross-functional teams found in startups (D-Schools seem to be the most adept at this already)

A Faster Web Experience with the Picture Element

Submitted by Hui Soo Chae on Wed, 09/03/2014 - 6:44am.

Check out this article from Ars Technica about a new HTML element that will make browsing the web much faster.

It's a great story of how a small group of developers (at the Boston Globe) engaged a broader community of developers and then some established institutions (as well a crowd funded campaign) to solve the problem of slow loading responsively design websites.

Here is how it works:

When the browser encounters a Picture element, it first evaluates any rules that the Web developer might specify. (Opera's developer site has a good article on all the possibilities Picture offers.) Then, after evaluating the various rules, the browser picks the best image based on its own criteria. This is another nice feature since the browser's criteria can include your settings. For example, future browsers might offer an option to stop high-res images from loading over 3G, regardless of what any Picture element on the page might say. Once the browser knows which image is the best choice, it actually loads and displays that image in a good old img element.

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