SkipCaptcha, Automoderated users, edit
8,856
edits
Changes
Jump to navigation
Jump to search
mLine 35:
Line 35: − + − + Line 44:
Line 44: − +
→Example
! Purchase Date !! Number !! Cost
! Purchase Date !! Number !! Cost
|-
|-
| January || 15 || $10
| January || 10 || $10
|-
|-
| February || 15 || $12
| February || 10 || $12
|-
|-
| March || 15 || $14
| March || 15 || $14
The inventory value as of the end of March is $540.
The inventory value as of the end of March is $540.
On April 1 the Eagles Landing Garden Club purchases five units of SuperPlant. Under FIFO, the five items sold are removed at $10 each (the oldest cost); the remaining inventory is valued as follows: (10 units x $10) + (15 units x $12) + (15 units x $14) = $490.
On April 1 the Eagles Landing Garden Club purchases five units of SuperPlant. Under FIFO, the five items sold are removed at $10 each (the oldest cost); the remaining inventory is valued as follows: (5 units x $10) + (10 units x $12) + (15 units x $14) = $380.
==LIFO==
==LIFO==