Hope Following Steps might help you in making Assignments.Also share if you have more information .

The first in, first out (FIFO) method of inventory valuation is a cost flow assumption that the first goods purchased are also the first goods sold.

Dear Students Add your gallon and rs values in it:

1. earliest goods purchased are the first ones removed from the inventory account. This results in the remaining items in inventory being accounted for at the most recently incurred costs, so that the inventory asset recorded on the balance sheet contains costs quite close to the most recent costs that could be obtained in the marketplac

example of the First-in, First-out Method

ABC Corporation decides to use the FIFO method for the month of January. During that month, it records the following transactions:

  Quantity
Change
Actual
Unit Cost
Actual
Total Cost
  +100 Rs:210 Rs:21,000
Sale -75    
Purchase (layer 2) +150 280 42,000
Sale -100    
Purchase (layer 3) +50 300 15,000
Ending inventory = 125    

Views: 395

Reply to This

Replies to This Discussion

MGT402 Assignment # 1

Attachments:

RSS

Forum

CONGRATS! PMNLS - Phase 4 & 5 > 2nd Merit List of Master (16-Yrs.) Students

Started by + caмe4ѕтυdιeѕ in
General Discussion
Last reply by + ! ! ! ! Hooriyaa ! ! ! ! + 13 hours ago. 1 Reply

Blocking of LMS Accounts

Started by Fakiha in
General Discussion
Last reply by + caмe4ѕтυdιeѕ on Wednesday. 1 Reply

A delegation from the FBISE visited VUP

Started by Fakiha in
General Discussion
Last reply by + caмe4ѕтυdιeѕ on Wednesday. 1 Reply

An Instructors View on Student Success

Started by Fakiha in
Study Disscussion
Last reply by + ! ! ! ! Hooriyaa ! ! ! ! + Jul 12. 2 Replies

Allowed Softwares & Their List -- per VU Subjects

Started by + caмe4ѕтυdιeѕ in
Study Disscussion
Last reply by + ! ! ! ! Hooriyaa ! ! ! ! + Jul 12. 2 Replies

MS Excel Tutorials

Started by + caмe4ѕтυdιeѕ in
Study Disscussion
Last reply by Sharal Khan Jul 14. 3 Replies

SPONSORED LINKS

© 2019   Created by Muhammad Anwar Tahseen.   Powered by

Badges  |  Report an Issue  |  Terms of Service