'Fifo periodic' presentation slideshows

Demonstration Problem

545 views • 40 slides

Home Work #6

Home Work #6. Dr. Yan Xiong. 1. Invoice price of goods is $5000. Purchase terms are 2/10, n/30 and the invoice is paid in the week of receipt. The shipping terms are FOB shipping point and the shipping cost is $200. ($5,000 0.98) + $200 = $5,100

156 views • 15 slides

First-In, First-Out

First-In, First-Out. The cost of the oldest inventory items are charged to COGS when goods are sold. The cost of the newest inventory items remain in ending inventory. The FIFO method assumes that items are sold in the chronological order of their acquisition. First-In, First-Out.

548 views • 7 slides