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FIFO + AVCO Numerical

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FIFO + AVCO Numerical

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Created by

Sabih Kamal
Sabih Kamal
Pakistan

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FIFO + AVCO Numerical
 

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FIFO + AVCO NumericalOnline version

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by Sabih Kamal
1

Q1 ? FIFO Calculation

Opening Inventory : 50 units @ $10
Purchase : 30 units @ $12
Sold : 60 units
COGS =
Closing Inventory =

2

Q2 ? FIFO Layers

Opening : 20 units @ $15
Purchase : 50 units @ $18
Sold : 40 units
COGS =
Closing Inventory =

3

Q3 ? FIFO Sale

Purchase 1 : 40 units @ $8
Purchase 2 : 30 units @ $9
Sold : 50 units
COGS =
Closing Inventory =

4

Q4 ? AVCO Weighted Average

Opening : 40 units @ $10
Purchase : 20 units @ $14
Total units : 60
Average cost = $12
Sold : 30 units
COGS =
Closing Inventory =

5

Q6 ? AVCO Multiple Purchases

Purchase 1 : 20 units @ $12
Purchase 2 : 10 units @ $18
Total : 30 units , average = $14
Sold : 15 units
COGS =
Closing Inventory =

 
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