@mtaylo24 – sorry, in my determination to be self-centered this week (telling my all-adult family to take care of itself and me too) I forgot you tested BEC today. I hope you feel good about it!
Kudos for jumping back in here right away – I think I would be a vegetable.
I have no clue on how I did, the test was weird…I did good with the calcs, but the conceptual questions were from another planet! I just know that I'm brain dead right now 😵…
I see the issue – you need two inventory lines for 12/6, because under LIFO and FIFO you have to track each purchase individually and know how much you own at each price – so on 12/6 you have a bucket with 400 $11 items and another bucket with 100 $12 items. As you sell, you have to sell (LAST in first out) the newest ones first and keep track of how many older ones you still have.
Edited that, put the wrong price on the second bucket!
@ginic, No worries. Just checking in, probably won't start back up until tonight. At this point, I've been up for about 28 hours, so I'm going to attempt to crash out! Carry on 😎
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