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View Full Version : How to calculate FIFO, LIFO?


bunny101
Dec 16, 2010, 12:58 PM
July 1st beginning purchase 10un.@120 July 5th purchase 60un@112 July 14th sale 40@ July 21st purchase 30@115 July 30th sale 28@ Calculate for FIFO, LIFO: Answers: FIFO: 3674, 3644, 7696, 7706

Just Looking
Dec 16, 2010, 01:21 PM
This looks like a repeat question, unless they are now asking for the Inventory amount?

bunny101
Dec 16, 2010, 01:26 PM
For fifo, lifo... answer is: fifi=7696 and lifo=7706... just asking is it right...

Just Looking
Dec 16, 2010, 01:32 PM
Yes, I saw your other question where you asked that and I answered it.

https://www.askmehelpdesk.com/accounting/fifo-lifo-535233.html