FIFO Accounting - Beginners Approach [FIFO]

#hstutorial FIFO is an acronym which depicts First in First Out.
Today you’re going to learn how issues are priced.
You’ll also see how they are priced from the oldest item of material in store until all unit of that batch has been issued.
But wait, there’s more, FIFO has some other elements to consider, like the advantages and disadvantages of FIFO LIFO Weighted Average Accounting etc…
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[@plaxidesnamutami06]

glad I found you Sir everything starting to make sense now

[@hstutorial]

Plaxides Namutami You’re welcome. Good luck to you and your coursemates 👍🏽

[@ezechiomarosemary5962]

Always like your teaching

[@emmanuelmichelo5092]

This is awesome! Simple and strait forward

[@ogechukwuumeojianya4928]

Thank you sir 💕. I understand better now

[@zainabakinsola]

U just help my sleepless nights sir having exam on Wednesday

[@hawanatunavebrima80]

It my first time here and have learnt something

[@benfury6693]

Thank you sir for explaining about the unit price under issue. Compared to other methods I've been taught, this one is quite extensive and we surely won't have time in exams. You did say at the beginning that they were other methods to solving FIFO. Will you please consider to teach us the other shorter ones?

[@FABI_HISKIA]

You just help save my semester 😭😭😭

[@Kathydrick-f9q]

I really enjoyed your lesson sir really helps a lot but I have a question here unsolved

[@peterchok8769]

Thanks you

[@NuraMtakili-dc4ns]

We loves u a lot

[@adeosunabiola5794]

Thank you sir, how do you calculate gross profit?

[@oluwakemianuoluwapo77]

Thank you sir But sir let assume we are not giving opening stock

[@kl-px1zy]

Thank you for doing this video, may I ask the reason for why we don't use sales price unit to calculate in fifo method?

[@Ms.Janney]

Sir please you made a mistake. Please the balance side in January, 72000 divided by 1000 is 72 please but you wrote 70. Kindly correct me if I’m wrong

[@luhibomiyoba6549]

I would like to send a question. How do I send it

[@HoppyEntertainment]

Sir what is the name of ur site

[@ChiamakaMaduelosi]

How is 72000 ÷ 1000 = 70 Is it not meant to be 72

[@preciousosamudiamen8128]

Please your website is not working pls I need theory

[@hstutorial]

PRECIOUS OSAMUDIAMEN kindly check now. It's up and running.

[@hstutorial]

Go to the library section and search for FIFO and read on the theoretical aspect of the topic.

[@MohamedMansaray-p4x]

U made a mistake february should be 700 not 500 watch the video again

[@Kathydrick-f9q]

I really enjoyed your lesson sir really helps a lot but I have a question here unsolved