FIFO
Date Transactions Quantity Unit cost
1- Oct Opening inventory 100 20
2-Oct Buying 120 23
5-Oct Selling 60
7-Oct Buying 130 22.5
13-Oct Selling 180
20-Oct Selling 90
25-Oct Buying 120 21.3
31-Oct Selling 50
Total
Closing 90 21.3
FIFO
Date Transactions Quantity Unit cost
1- Oct Opening inventory 100 20
2-Oct Buying 120 23
5-Oct Selling 60
7-Oct Buying 130 22.5
13-Oct Selling 180
20-Oct Selling 90
25-Oct Buying 120 21.3
31-Oct Selling 50
Total
Closing 90(70;20) 20&21,3
FIFO
Date Transactions Quantity Unit cost
1- Oct Opening inventory 100 20
2-Oct Buying 120 23
5-Oct Selling 60 21.6
7-Oct Buying 130 22.5
13-Oct Selling 180 22
20-Oct Selling 90 22
25-Oct Buying 120 21.3
31-Oct Selling 50 21.4
Total
Closing 90 21.4
Inventory COS
2,000
2,760
-
2,925
4,010
2,025
2,556
1,089
7,124
1,917
Inventory COS
2,000
2,760
1,380
2,925
4,075
1,830
2,556
1,065
8,350
1,891
Inventory COS
2,000
2,760
1,296
2,925
3,960
1,980
2,556
1,070
8,306
1,926