![]() ![]() FIFO (First in, first out) - When determining how much inventory was sold in a specific time frame, this method uses the inventory that was purchased initially.The following are the four primary inventory costing techniques: ![]() You perform the identical calculations, but you don't give the goods a cost. It is simpler to calculate the average inventory level than the average inventory cost. The quantity of products, not their dollar value, is what is meant by the average inventory level.
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