tamikol
Nov 18, 2009, 04:48 PM
How to prepare a cost of production report, using fifo
morgaine300
Nov 18, 2009, 09:51 PM
Assuming this is for process costing, that is just way too complicated and involved for someone to just try to explain on a forum like this.
Best I can do is give you a couple of links, which may or may not be more useful than your textbook:
Principles of Accounting Chapter 20 (http://www.principlesofaccounting.com/chapter%2020.htm#EQUIVALENT%20UNITS)
Cost of Production Report-FIFO Method (http://www.accountingformanagement.com/cost_of_production_report_fifo_method.htm)
Personally I think the first is easier to follow.