Inventory Methods

Units Cost per Unit
Beginning Inventory
First Purchase
Second Purchase
Third Purchase
Ending Inventory

How to calculate


Goods Available for sale chart

add up the units and total cost from the purchases to get the goods available for sale

FIFO Calculations

Calculate the number of goods sold by subtracting goods available for sale from ending inventory
Then allocate that number of units starting with the begining inventory and moving on through the purchases in order.

LIFO Calculations

Calculate the number of goods sold by subtracting goods available for sale from ending inventory
Then allocate that number of units starting with the last purchase and moving to begining inventory.

WA Calculations

Calculate the unit price by dividing the total cost of goods available for sale by the number of units.
simply multiply that price by the number of units.