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

General purpose register - assembly language, General purpose register - as...

General purpose register - assembly language: Basic ISA Classes: Accumulator: 1 address add Aacc ←acc + mem [A] Stack: 0 address add to s ←to s+ next G

Explain about the term business-to-customer, Explain about the term busines...

Explain about the term business-to-customer. B2C (business-to-customer): "Electronic commerce" is usually understood mostly as selling goods or services to people ("last

State the web server security through ssl, Web server security through SSL ...

Web server security through SSL (Secure Socket Layer) As it is well known that the Intranets and internet are purely based on use of powerful web servers to deliver information

Transportation model, advantages and disadvantages of northwest corner meth...

advantages and disadvantages of northwest corner method and least cost method

Data structure in which an element is added, A data structure in which an e...

A data structure in which an element is added and detached only from one end, is known as Stack

Rationales for an effective and independent regulator, Question: (a) W...

Question: (a) What are the rationales for an effective and independent regulator? (b) Across Africa, regulators have established Universal Service Funds (USFs) in order to

In how many ways the data can be passed to functions, Object Oriented Progr...

Object Oriented Programming 1. Describe that in how many ways the Data can be passed to functions? Explain with the help of one example. 2. Describe how you create class a

How to call a wml script from a wml page, WML & WML Script 1. How to ca...

WML & WML Script 1. How to call a WML Script from a WML Page? 2. Write a brief note on WML Script Operators and Expressions. 3. Write brief notes on WML Script Statements

Convert the octal number 7401 to binary, Convert the octal number 7401 to B...

Convert the octal number 7401 to Binary. Ans. Octal number 7401 to Binary conversion: Every octal digit represents 3 binary digits. To change an octal number to binary number,

What is computer communications networks, Q. What is Computer communication...

Q. What is Computer communications networks? Computer communications networks are the outcome of a combination of computers and telecommunication products. An interconnected gr

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