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View Full Version : How to calculate using FIFO, LIFO?


bunny101
Dec 16, 2010, 12:40 AM
Date:
July 1 beginning inventory 10 units @ $120
5 purchase 60 units @ $ 112
14 sale 40 units @
21 purchase 30 units @ $ 115
30 sale 28 units @

pready
Dec 16, 2010, 07:35 AM
FIFO
14 Jul you sold 10 units @ $120 + 30 units @ $112.

30 Jul you sold 28 units @ $112

LIFO
5 Jul you sold 40 units @ $112

39 Jul you sold 28 units @ $115

bunny101
Dec 16, 2010, 08:29 AM
Thank you very much!