Calculating FIFO

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Calculating LIFO, FIFO, & Weighted Average [ 0 Answers ]

I cannot figure out how to calculate ending inventory for LIFO, FIFO, and Weighted Average. Beginning Inventory is $45,650. Jan 1500 @ 30 Feb 1550 @ 31.25 Apr 1625 @ 31.12 May 1456 @ 32 Jul 1875 @ 32.25 Aug 1259 @ 33

Calculating Lifo/Fifo Methods [ 2 Answers ]

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...

Help calculating LIFO and FIFO thanks [ 1 Answers ]

I am working on account homework and stuck. I need to calculate the LIFO and FIFO ending inventory, cost of goods sold, and gross profit but I have sale returns and purchase returns. I guess I'm unclear as to how to correct them. Here is an example: Date description Quantity Unit cost 1 ...

Calculating fifo, lifo, and average cost [ 1 Answers ]

Boarders sells a snowboard Xpert, that is popular with snowboard enthusiasts. Below is information relating to Boarder's purchases of Xpert snowboards during September. During the same month, 121 Xpert snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept 1 Inventory 25 $ 100...

First -in first out (fifo) [ 1 Answers ]

The following lots of a particular commodity were available for sale during the year: Beginning inventory... 10 units at $61 First purchase... 25 units at $63 Second purchase... 30 units at $64 Third purchase... 15 units at $73 The firm uses the periodic system and there are 20 units of the...

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