Do you need to know how to calculate FIFO and LIFO (1 Viewer)

[Laxu01010]

and is it like the COGS formula or something?

 

[its_ace21]

Wdym calculate fifo and lifo

that’s part of the operations syllabus where fifo is “first in first out” where the oldest stuff gets sold first like things that can expire (groceries) while lifo is “last in first out” meaning the newest stuff is sold first

there’s nothing to calculate

 

[Socialism]

i thought he was referring to fly in fly out LOL idk why but

 

[jonolad69]

i thought he was referring to fly in fly out LOL idk why but

maybe because its a content syllabus dotpoint in business studies you retard

 

[Socialism]

girl i have not done business studies ive just finished year 10???

 

[spiderfan44]

i thought he was referring to fly in fly out LOL idk why but

same

 

[tvskAXatar]

Fly in fly out?

 

[thegoat2024]

and is it like the COGS formula or something?

Ive seen a couple multis on it in my time but i doubt itll be asked in hsc.

if it is you just consider how fifo/lifo impacts cogs for a given period and then do it.