Calculating Lifo/Fifo Methods
Hi guys, I'm really confused with a Q I was hoping you could help me with!
13 Jan purchases 200 - total cost 7,200
08 Feb purchases 400 - total cost 15,200
11 Mar purchases 600 - total cost 24,000
12 April purchases 400 - total cost 14,000
15 June purchases 500 - total cost 14,000
10 Feb sales 500 - total sales 25,000
20 Apr sales 600 - total sales 27,000
25 Jun sales 400 - total sales 15,200
Other expenses occurred amounting to €2,300
I've to calculate the Fifo & Lifo and I'm so confused and pretty much pulling my hair out.. Please help! Thank you so much...