FIFO Periodic Inventory Method
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FIFO Periodic Inventory Method
This video shows how to use the FIFO (first in, first out) cost flow assumption to calculate Cost of Goods Sold (COGS) and ending inventory for a company that uses a periodic inventory system. Companies that use a periodic inventory system do not make changes to the inventory account when inventory is purchased or sold. Thus, a company using ...
126.7K viewsSep 24, 2018
FIFO Inventory Examples
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