FIFO,LIFO and AVCO

jewels.p

I have a Short Test to complete and one of the questions asks me to calculate Closing Stock Figures using FIFO,LIFO and AVCO my three figures are FIFO - £13610
LIFO -£13430
AVCO - £14336

The AVCO figure is quite a bit amount more than the other two should it be nearer than this?

Thanks

Julie:001_smile:

Ell1e

AVCO should be in the middle of the LIFO and FIFO Figures if that helps.

jewels.p

Ell1e wrote: »

AVCO should be in the middle of the LIFO and FIFO Figures if that helps.

It did and I have now found out where I went wrong!:thumbup1:

Thanks for that

Julie:001_smile:

SandyHood

Any stock valuation questions?

If you would like any help on stock valuation, please look at the blog and add your comments and questions.
There are currently two blogs I have put there
Blog 1 Stock FIFO
and Blog 2 Stock LIFO AVCO
there will be question there soon, when the third blog is posted.
I am hopeful that the blog could become a lively area for discussing the topics (such as AVCO FIFO etc) that are started there.