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    bunny101's Avatar
    bunny101 Posts: 9, Reputation: 1
    New Member
    		  
    #1

    Dec 16, 2010, 12:40 AM
    How to calculate using FIFO, LIFO?
    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's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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's Avatar
    bunny101 Posts: 9, Reputation: 1
    New Member
    		  
    #3

    Dec 16, 2010, 08:29 AM
    Comment on pready's post
    Thank you very much!
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