FIFI Method
 

Hello,
Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....

Thanks in advance.

FIFI Method
 

What do you want to know specifically? Also, it would help if you let
responders know which accounting rules are relevant to your question. A
responder from the UK would not be of much help if you're concerned with US
GAAP rules, etc.

Dave
--
Brevity is the soul of wit.


"Naina" wrote:

Hello,
Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....

Thanks in advance.

FIFI Method
 

On Jan 31, 3:22 am, Naina wrote:
Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....

There is nothing unique to Excel, so far as I now. For inventory
purposes, FIFO simply means that the cost of goods sold, consumed or
manufactured is associated with the oldest items in inventory first.
Suppose your cost basis is 10 @ $100, 20 @ $90 and 10 @ $110. If you
sell or use 20 items, the cost is 10*100 + 10*90, not 20*90 or 10*110
+ 10*90.

In terms of designing Excel spreadsheets, it means: given a list of
inventory purchased or manufactured on various dates at various
prices, in order to determine the cost basis of items removed from
inventory, you need formulas that take as many items as possible from
the oldest inventory first.

If you are looking for a more-specific answer, it would be helpful to
provide a concrete example.

FIFI Method
 

hi,
whatever u told is correct..I want this simple calculation only which you
have stated...can you proivde me how to calculate it in excel...

"joeu2004" wrote:

On Jan 31, 3:22 am, Naina wrote:
Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....

There is nothing unique to Excel, so far as I now. For inventory
purposes, FIFO simply means that the cost of goods sold, consumed or
manufactured is associated with the oldest items in inventory first.
Suppose your cost basis is 10 @ $100, 20 @ $90 and 10 @ $110. If you
sell or use 20 items, the cost is 10*100 + 10*90, not 20*90 or 10*110
+ 10*90.

In terms of designing Excel spreadsheets, it means: given a list of
inventory purchased or manufactured on various dates at various
prices, in order to determine the cost basis of items removed from
inventory, you need formulas that take as many items as possible from
the oldest inventory first.

If you are looking for a more-specific answer, it would be helpful to
provide a concrete example.

FIFI Method
 

On Jan 31, 11:27 pm, Naina wrote:
whatever u told is correct..I want this simple calculation only which you
have stated...can you proivde me how to calculate it in excel...

Sorry, not I.

FIFI Method
 

Suppose I purchased following stock :
1000 units at $150,
1500 units at $125,
950 units at $130,
1000 units at $ 125

now i sold out 950 units then its price will be $150,
after this if i sold out 900 units then for 50 units price will be $150 and
balance 850 units' price will be $125 like this..

I want formulla for calculation of outward price..
can any body help me for formula....


"joeu2004" wrote:

On Jan 31, 11:27 pm, Naina wrote:
whatever u told is correct..I want this simple calculation only which you
have stated...can you proivde me how to calculate it in excel...

Sorry, not I.

FIFI Method
 

Hello,
Can anybody help me .....

"Naina" wrote:

Hello,
Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....

Thanks in advance.