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FIFO and Moving Average Methods Overview

The document contains information about two inventory methods: first-in, first-out and moving average. It includes tables with dates and inventory data like receipts, issues, balances, and calculations of raw materials beginning, purchases, total available, ending, and materials used.

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Theresa Roque
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98 views4 pages

FIFO and Moving Average Methods Overview

The document contains information about two inventory methods: first-in, first-out and moving average. It includes tables with dates and inventory data like receipts, issues, balances, and calculations of raw materials beginning, purchases, total available, ending, and materials used.

Uploaded by

Theresa Roque
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

FIRST-IN, FIRST-OUT METHOD

DATE

1-May
6-May

10-May

21-May

23-May

25-May

MOVING AVERAGE METHOD

DATE

1-May
6-May

10-May

21-May

23-May

25-May

Raw materials beginning


Purchses
RM available
Less: RM, end
Materials used
RECEIVED ISSUED BALANCE
REF NO.
UNITS PRICE AMOUNT UNITS PRICE AMOUNT UNITS PRICE
150 150.00
150 150.00
PO-8 150 155.00 23,250.00
150 155.00
150 150.00 22,500.00
R-10
30 155.00 4,650.00 120 155.00
120 155.00
PO-9 150 156.00 23,400.00
150 156.00
120 155.00 18,600.00
40 156.00 6,240.00 110 156.00
-10 155.00 (1,550.00) 110 156.00
RMR-3
10 155.00
46,650.00 50,440.00

RECEIVED ISSUED BALANCE


REF NO.
UNITS PRICE AMOUNT UNITS PRICE AMOUNT UNITS PRICE
150 150.00
PO-8 150 155.00 23,250.00
300 152.50

R-10
180 152.50 27,450.00 120 152.50

PO-9 150 156.00 23,400.00


270 154.44

R-16
160 154.44 24,710.40 110 154.44

RMR-3
-10 152.50 (1,525.00) 120 154.28
50,635.40
materials beginning 22,500.00
46,650.00
69,150.00
18,513.89
50,636.11
BALANCE
AMOUNT
22,500.00 Raw Materials, beginning 22500
22,500.00 Add: Net Purchases 46650
23,250.00 Total RM available for use 69150

18,600.00
18,600.00
23,400.00

17,160.00
17,160.00
1,550.00 Raw materials, ending 18,710.00
Materials used 50,440.00

BALANCE
AMOUNT
22,500.00

45,750.00

18,300.00

41,700.00

16,988.89

18,513.89
10000
62.5
5

500

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