Date of Purchase Number Unit of Issue Unit Price
January 21, 20XX 10000 lf $0.48
February 25, 20XX 10000 lf $0.46
March 31, 20XX 15000 lf $0.47
April 28, 20XX 15000 lf $0.50
Total 50000 lf
This table displays the purchase date and number of linear feet (lf) of standard-grade pine-stud lumber. You need to purchase 35,000 lf of this lumber for an upcoming renovation project. Calculate the lumber cost using the First-In-First-Out method.
+130466 Let's see...let me go back to my Accounting days....
Using FIFO, we have....
10,000 of the units purchased Jan. 21 + 10,000 of the units purchased Feb. 25 + all 15,000 units pruchased on Mar 31
So
10000(.48) + 10000(.46) + 15,000(.47) =
4800 + 4600 + 7050 =
$16,450
{This is in direct contrast to my "Personnel Retainment Theory" = "FISH" = First In , Still Here }
+130466 Let's see...let me go back to my Accounting days....
Using FIFO, we have....
10,000 of the units purchased Jan. 21 + 10,000 of the units purchased Feb. 25 + all 15,000 units pruchased on Mar 31
So
10000(.48) + 10000(.46) + 15,000(.47) =
4800 + 4600 + 7050 =
$16,450
{This is in direct contrast to my "Personnel Retainment Theory" = "FISH" = First In , Still Here }
