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November 20, 2020 at 4:24 pm
Sir for LIFO, since they are accounted on the year end, and not perpetually like Avg, can we not just do: 20 + 140 + 100 – 80 – 140 = 40 (20 x 4) + (20 x 4.4) = 168.
Simple calculation of quantity like FIFO, then take cost from old stock instead of new stock for LIFO reasons.
Sir for Avg cost, can we simply do: 20 + 140 + 100 – 80 – 140 = 40
(4 + 4.4 / 2) = 4.2 (4.2 + 4.6 / 2) = 4.4
40 x 4.4 = 176
Your answer was around 180.
Is this method good enough ? Is this small difference of value an issue ?
September 17, 2020 at 12:25 pm
Well simplified lecture, sir ! And really a funny adorable comment for shopping in the Supermarket – LIFO style , made me laugh off loud.
Sir, if you may, shall you be covering about periodic weighted avg later on? I saw it briefly mentioned alongside Weighted Avg, in my Tuition Notes of the Institute I go to. Or it won’t appear in the Exams and we don’t need to know.
April 30, 2020 at 1:46 am
Thank you very much for the class Sir. It was beautiful and understandable.
John Moffat says
April 30, 2020 at 8:52 am
Thank you for your comment 🙂
April 4, 2020 at 6:11 pm
A thoroughly enjoyable lecture indeed ! Thank you so much Mr.Moffat.
April 4, 2020 at 7:04 pm
November 21, 2019 at 7:20 am
Is there not periodic weighted avg. method in f2?
October 7, 2019 at 6:52 pm
sir, i don’t understand how we 40*4.49 instead of 140*4.49 in example 3 (Weighted average cost. The last issue). in the lecture it says its because we sold 100 units. so why didnt we apply that in the previous issue?
October 7, 2019 at 8:05 pm
sorry i realised my mistake. i had forgotten the role of the units currently in store i.e 180!!Thanks anyways!
October 8, 2019 at 7:05 am
You are welcome 🙂
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