[Anonymous]

For a FIFO question, if the question provides the # of inventory purchased with the dates and prices, and also says that a certain number of inventory was sold during the year at a given price, but does not provide the date sold, how would you know where to apply the number of items sold? Would you divided it equally towards the ones purchased?

[MCLKT]

For FIFO it doesn't matter when they were sold. Because they will all come from the earliest purchases. FIFO you just calculate what it left.

So you come up with the total # available for the year. Subtract total # sold. That gives you what is left.

Start from your most RECENT purchase and work backwards to get the value.

Begin with 10, March purchase 7, October purchase 3.

Total for year is 20.

Sold 8 (@ beginning value).

You have 12 left.

3 @ Oct value

7 @ March value

2 @ Beginning value

======

Ending Value

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Author]

Replies