AVCO, FIFO and LIFO ExamplesYour company values stock on the FIFO basis.
However, the production manager has heard that other methods exist. He asks you to provide valuations on a sample of stock purchased and issued in June using the three methods of FIFO, AVCO and LIFO. Sample stock - widgets
Stock movement - June Units Cost (£)
01-Jun Balance 0
03-Jun Purchased 500 1.80
05-Jun Purchased 300 1.95
07-Jun Issued 600
12-Jun Purchased 800 2.
jun | issu | purchas | fifo | stock | balanc | unit | avco
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