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
Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H

Define the difference between effort and elapsed time. What is the importance of this difference for project planning purposes? Effort is the whole volume of work included in a

What is the success effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI success into promoting development: • Introduces mode

What is effectiveness of International Monetary Fund, in the promotion of development? Effectiveness of International Monetary Fund, in the promotion of development: Interna

QUESTION (a) One of the differences between a monopolistically competitive industry and a perfectly competitive one is that in the former, there is product differentiation. (i)

Define advocates of the International Monetary Fund argue. Advocates of the International Monetary Fund (IMF) argue • Competitive devaluations were a characteristic of the i

analyse the method by which a firm can allocate the given advertising budget between different media of advertisement

Suppose that EBV is considering a $5m Series A investment in Newco. EBV proposes to structure the investment as 5m shares of CP with FV of $5m, one-to-one conversion to common, and

Bonjour, Veuillez SVP me donner un modèle d''un projet. Merci

QUESTION The first stage of e-Government involves the creation of a web presence through websites. Discuss the benefits and challenges of a governmental website and explain why