First-in first-out method (fifo), Business Economics

First-in First-out Method (FIFO)

A technique of inventory valuation based on the concept that merchandise is sold in the order of its acknowledgment. In other words, if an electronics store buys 100 stereos in January and 50 in February, FIFO assumes that the units' buys in January will be sold before the units buys in February.  When inventory is valued with FIFO, cost of products sold is totally based on the cost of older inventory.

Posted Date: 10/17/2012 3:37:39 AM | Location : United States







Related Discussions:- First-in first-out method (fifo), Assignment Help, Ask Question on First-in first-out method (fifo), Get Answer, Expert's Help, First-in first-out method (fifo) Discussions

Write discussion on First-in first-out method (fifo)
Your posts are moderated
Related Questions
Is there an optimum population size for a country? Optimum (best) population arises while productivity that is output per person is highest. • An under-populated country ca

Advanced Package Service (APS) offers overnight package delivery to business customers.  APS has recently decided to expand its facilities to better satisfy current and projected d

How is the installation and commissioning affects the IS project? Installation and commissioning: This stage of a project is frequently either forgotten or underestimated

What is urbanisation? Urbanisation arises while an increasing proportion of the population live into cities, suburbs or towns. All cities are attractive to potential migrants s

Prepare an interview plan for the post of Business Analyst in your team. a. Welcome then introductions/administrative objectives/agenda. Found rapport. b. Ask questions conc

What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the

Please comment on the following statement. True, False, or Uncertain: If an investor believes that the total valuation of a company is higher than the post-transaction valuation fo

What is exceptional supply curves

I want a presentation on Saudi Arabia''s economic forecast for 2018 to 2020 and role and future of travel industry in it.

How is the social capital measured? Measurement of the socilal capital: Social capital is a latest, multidimensional, qualitative idea which is problematic to measure. Res