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Using FIFO, how would I find the amount allocated to the cost of goods sold?


I understand how to find the amount allocated to ending inventory but not to the cost of goods sold...Thank you!!!!

538 day(s) ago

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kimkimcpa 		Depends on whether you're using FIFO perpetual or periodic.

http://www.accountingcoach.com/online-accounting-course/12Xpg04.html#perpetual-fifo

http://www.accountingcoach.com/online-accounting-course/12Xpg02.html#periodic-fifo

Posted 538 days ago

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