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  • First in First Out: Date Receipts Issues Balance

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    Vijay King
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    This document shows receipts and issues of inventory using the FIFO (First In First Out) method along with balances from March 1-27. It tracks units received and issued on each date at different unit costs, calculating totals for receipts and issues as well as ending balances. The balances are calculated using the earliest received units first.

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    accounting

    Original Title

    First in First Out

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    This document shows receipts and issues of inventory using the FIFO (First In First Out) method along with balances from March 1-27. It tracks units received and issued on each date at different unit costs, calculating totals for receipts and issues as well as ending balances. The balances are calculated using the earliest received units first.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    35 views1 page

    First in First Out: Date Receipts Issues Balance

    Uploaded by

    Vijay King
    This document shows receipts and issues of inventory using the FIFO (First In First Out) method along with balances from March 1-27. It tracks units received and issued on each date at different unit costs, calculating totals for receipts and issues as well as ending balances. The balances are calculated using the earliest received units first.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    First In First Out

    Date

    Receipts

    Issues

    Unit

    Cost($)

    Total($)

    200

    3.50

    700

    Unit

    01 MARCH
    03 MARCH

    08 MARCH
    15 MARCH

    17 MARCH

    250
    300

    200

    3.20

    3.30

    960

    660

    21 MARCH
    23 MARCH

    27 MARCH

    500
    450

    3.10

    1395

    350

    Cost($)

    Balance
    Total($)

    Unit
    100

    Cost($)
    3.00

    Total($)
    300

    100

    3.00

    300

    200

    3.50

    700

    50

    3.50

    175

    50

    3.50

    175

    300

    3.20

    960

    50

    3.50

    175

    300

    3.20

    960

    200

    3.30

    660

    50

    3.30

    165

    50

    3.30

    165

    450

    3.10

    1395

    150

    3.10

    465

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