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Example

This document shows receipts and issues of inventory units over multiple dates from January to May. It includes the date, number of units received or issued, and price per unit. It then calculates the value of receipts and issues on those dates, and tracks the ending balance, unit price, and value under both FIFO and LIFO accounting methods.

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malingaperera
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© Attribution Non-Commercial (BY-NC)
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35 views3 pages

Example

This document shows receipts and issues of inventory units over multiple dates from January to May. It includes the date, number of units received or issued, and price per unit. It then calculates the value of receipts and issues on those dates, and tracks the ending balance, unit price, and value under both FIFO and LIFO accounting methods.

Uploaded by

malingaperera
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Example

Date

Received
(units)

Issues (units)

@ Rs. Per unit

Jan 01

1000

10

Jan 10

260

10.50

Jan 20

700

Feb 04

400

11.50

Feb 21

300

12.50

March 16

620

April 12

240

May 10

May 25

500

380

11

Receipts
Date

Units Rate

Value

Jan 01

1000 10

Jan 10

260

10.50

FIFO

Value

10000

1000

10000

2730

1260

12730

560

5730

700

Rate

Balance
Unit

Jan 20

Unit

Issues

10

Value

7000

Feb 04

400

11.50

4600

960

10330

Feb 21

300

12.50

3750

1260

14080

640

7660

400

4900

900

10400

520

5750

Mar 16

Apr 12

May 10
May 25

500

11

300

10

3000

260

10.50

2730

60

11.50

690

240

11.50

2760

5500
100

11.50

1150

280

12.50

3500

LIFO
Receipts

Issues

Date

Units Rate

Value

Jan 01

1000 10

Jan 10

260

10.50

Unit

Value

10000

1000

10000

2730

1260

12730

560

5600

Jan 20

Unit

Rate

Balance

Value

260

10.50

2730

440

10

4400

Feb 04

400

11.50

4600

960

10200

Feb 21

300

12.50

3750

1260

13950

640

6520

400

4000

900

9500

520

5320

Mar 16
Apr 12

May 10
May 25

500

11

300

12.50

3750

320

11.50

3680

80

11.50

920

160

10

1600

5500
380

11

4180

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