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
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That

How is effort monitored onto a project? It is significant that the effort to be spent onto activities is reassessed on a regular basis – why is it so very important? Effort is

QUESTION Write short notes on any three (3) of the following: (a) National income and the standard of living. (b) Globalization and its implications for developing countr

There are two agents, A and B. Both have preferences represented by a von Neumann-Morgenstern utility function u(c s j ) = ln (c s j ), where c s j is consumption of agent j in

what is increaase libralisation?

The reserve requirement is 20%. Assuming banks have no desire to hold excess reserves, calculate the money multiplier. Now assume the banks want to hold 20% of their reserves in ad

#question the importance of managerial economics..

Consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4)        for the prices (p 1 , p 2 , p 3 )=(1, 1, 1).

How can Maslow and Hertzberg’s Herzberg theories of inspiration assist you to categorize your project team and the way work is assigned? We must suppose that working in an IS p

Why does economic development engage structural change? The process of development needs structural change. Usually economies develop by moving resources through agricultural