i need to understand how to do the above valuation accounting it is very confusing to me could you create some steps so that i can follow or a simpler way to understand it. thank you.

ms180sx

lifo is last in first out. Fifo is first in first out.
Theyre a way of calcultating costs.
Say u buy 5 widgets at 5 dolalrs in month 1, dont sell any
then u buy 10 widgets at 10 dollars in month 2
then you sell 12 widgets. how much was the cogs?
using last in first out, the 10 went first, so $100, then 2 more at 5$, so a total of $110.00
using the first in first out, you sold all 5@ $5.00, or 25, then 7 @ 10, or 70 = total of $95.oo

im not to sure what avco is about, still in my second accounting class.