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fifo urgent

Forums › ACCA Forums › General ACCA Forums › fifo urgent

  • This topic has 2 replies, 3 voices, and was last updated 14 years ago by alkemist.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • October 21, 2011 at 9:57 am #50175
    shujaattt
    Member
    • Topics: 21
    • Replies: 52
    • ☆☆

    hi i have come across a problem in bpp revision kit.
    an inventory account shows the following details:
    50 units in stock at a cost of 40$ per unit
    100 units purchased at 45$ per unit
    80 units sold
    50 units purchased at 50 $ per unit
    60 units sold
    So what is the inventory using the FIFO method?

    answer in the book is 2950$

    plz solve it for me I have a cbe after three days
    thanks

    October 21, 2011 at 10:34 am #88972
    ansi
    Participant
    • Topics: 119
    • Replies: 757
    • ☆☆☆☆

    hey, i ‘ve just answered this question in f3 forum

    October 23, 2011 at 3:08 am #88973
    alkemist
    Participant
    • Topics: 2
    • Replies: 488
    • ☆☆☆

    50 + 100 = 150
    150 – 80 = 70 @$45
    70 + 50 = 120
    but 70 – 60 = 10 @ $45
    thus at the end you have 10 @ $45 + 50 @ $50 = $450 + $2500 = $2950

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