[rjdub28]

NINJA Question –

I just completed FAR NINJA Sim #44 (LIFO perpetual inventory chart), and I understand the concept, but I can’t make heads or tails of the “Inventory” section (last 3 columns). I’ll try to type out the chart…

Purchases: Sales: Inventory

Number Cost Total Number Cost Total Number Cost Total

400 11 4400 – – – 400 11 4400

100 12 1200 – – – 400 11 4400

100 12 1200

Why is there the “extra” row for 400 units at $11? I think that’s what’s throwing me off. For the last row of inventory, I had put 500 units, $0, $5600 total. I thought the Inventory section meant your total inventory and total inventory cost, which to me seems like it should be 500 units for these first transactions.

I just cannot wrap my head around this one!

A - 67, 64, 92!!
R - 61, 75!
B - 80!
F - 68, 78!! DONE!

[rjdub28]

Wow, ok the chart did NOT turn out well. Ugh

A - 67, 64, 92!!
R - 61, 75!
B - 80!
F - 68, 78!! DONE!

[Mehwish]

[Dan T]

I know what you're referring to, that confused me as well.

You list ALL inventory for each purchase

So the first purchase was

400 @ 11

You list 400 @ 11

The second purchase was

100 @ 12

You list 400 @ 11

100 @ 12

Make sense?

AUD - 75 ☺
FAR - 65, 71, 70, 77 ☺
BEC - 80 ☺
REG - 73, 66, 79 ☺ 2/28/15

Done!

[rjdub28]

ooohhhhhhh gotcha! Thanks a ton @Dan T!!!

A - 67, 64, 92!!
R - 61, 75!
B - 80!
F - 68, 78!! DONE!

[Author]

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