Can anybody tell me about calculation of inventory in FIFO(first in first
out menthod) to be calculated in Excel only.....
There is nothing unique to Excel, so far as I now. For inventory
purposes, FIFO simply means that the cost of goods sold, consumed or
manufactured is associated with the oldest items in inventory first.
Suppose your cost basis is 10 @ $100, 20 @ $90 and 10 @ $110. If you
sell or use 20 items, the cost is 10*100 + 10*90, not 20*90 or 10*110
+ 10*90.
In terms of designing Excel spreadsheets, it means: given a list of
inventory purchased or manufactured on various dates at various
prices, in order to determine the cost basis of items removed from
inventory, you need formulas that take as many items as possible from
the oldest inventory first.
If you are looking for a more-specific answer, it would be helpful to
provide a concrete example.
