FIFO Process Costing

[@raihankhan4374]

Beginning inventory shouldn't be accounted for in the first step. The first step is exactly the same as the weighted average method. Between row 30 and 33 beginning WIP shouldn't be there. There should be three components, not 4. Not sure why our educators keep getting this wrong it makes such a simple concept so confusing.

[@LittleFishBigMind]

finally, this is the only one explained fifo method clearly, no more confusion

[@neda324]

can we have the link of problem?

[@its_me_human6448]

Thats the issue, replaying you after 5 years, Hah.

[@khairiyahkhirruddin2948]

you just saved my life! thank you!!!

[@tornvmax]

According to the text, "units accounted for" doesn't include beginning inventory. The correct calculation is: Work in Process Beginning: 80 Started in Period : 500 Units to account for : 580 Completed during Period : 460 Work in Process Ending :120 Units accounted for : 580

[@berendcasper9233]

+tornvmax Yes that is exactly what the book says

[@itsdannyftw]

+tornvmax just a different way to format it I think. Completed during Period obviously includes beginning inventory.

[@timothyarogundade2936]

Thank you

[@thivyaprasad1414]

which people study process costing ?? like I am studying charted accountancy! and I study this

[@norzanamustaffa3934]

Hi! Im Norzana, an Accounting Lecturer from Malaysia. I love the way you explain this. So clear and the templet is very convenience as well. I would really appreciate if you could furnished us a link to get this question as we dint have the book. Tq!

[@reaitumelarampagane1097]

these videos has really helped me a lot...i could not understand the method my lecture used....it was too complex....thnk u once again....

[@stephanieheiderick5487]

Very helpful. Thanks for posting : )

[@amirrezaax22]

amazing! thank you

[@furqanakramsheikh8999]

that was an amazing help

[@cwazychik]

you sound a lot like Ellen Page

[@abdulmuyeed230]

Very Good Explaination

[@ruvimbomuchineuta7818]

Thank u so much

[@usmanamjed7266]

Thank you Miss

[@Ricardojs5]

Jaguars fan!

[@quutan2427]

thank u!

[@henriser123]

se x

[@simonebeerendonk3572]

>:(((((

[@ElizabethFowler217]

Excellent!

[@mahveenlifestyle615]

ftnhtj m.h yr