First in first out method, Computer Engineering

Assignment Help:

The First In First Out method assumes items of stocks are issued in the same order as they are received. Thus the goods received first are assumed to be the first to be issued .Any stock remaining at the end of the accounting period is valued at the actual cost of the equivalent quantities received.FIFO reflects the traditional view of the flow of stock and is a widely used method.

The first in first out (FIFO) method of costing is used to introduce the subject of materials costing. The FIFO method of costing issued materials follows the principle that materials used should carry the actual experienced cost of the specific units used. The method assumes that materials are issued from the oldest supply in stock and that the cost of those units when placed in stock is the cost of those same units when issued. However, FIFO costing may be used even though physical withdrawal is in a different order.


Related Discussions:- First in first out method

What is the main use of structures, What is The main use of structures ...

What is The main use of structures The main use of structures is to lump together collections of disparate variable types, so they can conveniently be treated as a unit. For ex

Define external variable declaration, Summarize the distinction between an ...

Summarize the distinction between an external variable definition and an external variable declaration. When we have ''declared'' a variable, we have meant that we have told th

Illustrate about object oriented development, Illustrate about object orien...

Illustrate about object oriented development object oriented development is not direct way of system development as in this approach a holistic view of application domain is co

Where the trunks lines are run between, Trunks are the lines that run betwe...

Trunks are the lines that run between (A)  Subscribers and exchange (B)  Switching system and power plant (C) Local area network (D) Switching stations Ans:

Show the features of hyper-threading, Q. Show the Features of Hyper-threadi...

Q. Show the Features of Hyper-threading? The significant characteristics of hyper threading are: i) Improved response time and reaction, as well as increased number of users

An 8086 interrupt, An 8086 interrupt can take placedue to the following rea...

An 8086 interrupt can take placedue to the following reasons: 1.  Hardware interrupts caused by some external hardware device. 2.  Software interrupts that can be invoked wit

Determine no.of processes to avoid race condition, To avoid race condition,...

To avoid race condition, the maximum number of processes that may be simultaneously inside the critical section is The maximum number of processes is one to ignore race conditi

How to make a datapool, When producing a datapool, you state the kinds of d...

When producing a datapool, you state the kinds of data (called data types) that the script will send for example, customer names, addresses, and unique order numbers or product nam

What is the use of inter process communication, What is the use of inter pr...

What is the use of inter process communication. Inter process communication gives a mechanism to allow the co-operating process to communicate with each other and synchronies t

Karnaugh maps, Minimisation using Boolean algebra is not always straight fo...

Minimisation using Boolean algebra is not always straight forward and sometimes it is not obvious if a further manipulation would give a simpler circuit. Karnaugh maps are a muc

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd