Inventory Exercise Part 1 (LIFO, FIFO, Average Cost)

This is part 1 of a video that is intended to walk you through an inventory exercise using the basics of using LIFO and FIFO under both the periodic and perpetual inventory systems. A blank copy of the exercise is available by visiting http://evergreen.loyola.edu/~ktrich

Category:

Education

Tags:

• Accounting
• Practice Problems
• Inventory
• LIFO
• FIFO
• Perpetual
• Periodic
• Introductory Accounting
• instructions

[SanDiegoStudent]

Ahhh. I still don't get it!  =(

[partisan49]

for sales isnt it 3 @ $21?

[tape]

Thank you! This helped!

[JetZT7]

@partisan49 duude ur right

[dhn09]

@partisan49 (2 x $10) + (1 x $11)= $31

[bfrances9]

Nicely done--thanks!