FIFO Method Question
by Ritu Mehan
(Ludhiana, Punjab, India)
Date Particulars Units Rate
05.03.09 purchased 150 $1.50
12.03.09 purchased 300 $1.60
08.03.09 issued 200 $ ?
18.03.09 issued 250 $ ?
Assuming this business used the FIFO method, what would the rates be for the above issues of inventory?
Related Questions & Tutorials:
- Another FIFO Method Question
- FIFO METHOD Formula
- Advantages of FIFO and LIFO Methods
- Examples of FIFO Products in Real Life
Return to the main tutorial on FIFO and LIFO Accounting and the Weighted Average Cost Method
Comments for FIFO Method Question
| ||
| ||
| ||
| ||
| ||
| ||
| ||
| ||
© Copyright 2009-2020 Michael Celender. All Rights Reserved.
Click here for Privacy Policy.