FIFO = FIRST IN/FIRST OUT (COST)

UNIT TOTAL
DATE DESCRIPTION UNITS COST COST
1-Jan Beginning Inventory 100 $ 10 $ 1,000
15-Apr Purchase 200 $ 11 2,200
24-Aug Purchase 250 $ 12 3,000

TOTAL COST OF GOODS SOLD 550 $ 6,200

INVENTORY
24-Aug Purchase 50 $ 12 $ 600
27-Nov Purchase 400 $ 13 5,200

TOTAL INVENTORY 450 $ 5,800

TOTAL AVAILABLE 1,000 $ 12,000

LIFO = LAST IN/FIRST OUT (COST)
UNIT TOTAL
DATE DESCRIPTION UNITS COST COST
27-Nov Purchase 400 $ 13 $ 5,200
24-Aug Purchase 150 $ 12 1,800

TOTAL COST OF GOODS SOLD 550 $ 7,000

INVENTORY
24-Aug Purchase 150 $ 12 $ 1,800
15-Apr Purchase 200 $ 11 2,200
1-Jan Beginning Inventory 100 $ 10 1,000

TOTAL INVENTORY 450 $ 5,000

TOTAL AVAILABLE 1,000 $ 12,000

 TOTAL COST OF UNITS
WEIGHTED AVERAGE =
TOTAL UNITS

TOTAL COST OF UNITS = $ 12,000.00

WEIGHTED AVERAGE =
TOTAL UNITS = 1,000 UNITS

UNIT TOTAL
UNITS COST COST
COST OF SALE 550 $ 12 $ 6,600
INVENTORY 450 $ 12 5,400

TOTAL AVAILABLE 1,000 $ 12,000

$ 12,000.00
= $ 12
1,000 UNITS