Explain the differences between First In First Out (FIFO), Weighted Average, and Last In First Out (LIFO)

Fantastic news! We've Found the answer you've been seeking!

Question:

Explain the differences between First In First Out (FIFO), Weighted Average, and Last In First Out (LIFO) in Inventory Control Methods?

Posted Date: Dec 19, 2021 12:31 PM

See More Questions

Explain the differences between inventory carrying costs and ordering costs.
Explain the differences between moving average and exponential smoothing models.
Explain the differences between a perpetual and a periodic inventory system. Include in your explanation why the words "perpetual" and "periodic" are used for the two systems.
Paula makes the following acquisitions of ordinary shares in Indigent plc: She sells 500 shares on 28 March 2021. No shares are acquired within the next 30 days. (a) Show the s104 holding on 28 March...
Below is some information about ten respondents to a mail survey concerning candy purchasing. Use SPSS to construct the four different types of cross-tabulation tables which are possible. Label each...
Following is a portion of the computer output for a regression analysis relating y = maintenance expense (dollars per month) to x = usage (hours per week) of a particular brand of computer terminal....
What is the payback period for the project described in Problem 4.21 if the maintenance increases by $\$ 500 /$ year (after the first year)? Data from in problem 4.21 What is the payback period for...
Consider the perpendicular rectangles shown schematically. (a) Determine the shape factor F 12 . (b) For rectangle widths of X = 0.5, 1.5, and 5 m, plot F 12 as a function of Z b for 0.05 Z b 0.4m....
Marin Company produces two software products ( Cloud - X and Cloud - Y ) in two separate departments ( A and B ) . These products are highly regarded network maintenance programs. Cloud - X is used...
Reported in the table below are estimation results for three residential housing price models. The dependent variable is defined as home sales price measured in thousands of dollars. The models...
In 2021, Milton Corporation Limited (ASX: MLT) announced that the independent Milton directors have determined to pay special dividend of 37 cents for each Milton share held by shareholders as at the...
A political candidate has hired a polling firm to assess her chances of winning a senatorial election in a large eastern state. She wants an estimate of the proportion of registered voters that would...
The yield per acre of a certain dwarf watermelon is highly dependent on the amount of rainfall that occurs during the growing season. Following standard cultivation practices, the relationship...
Let $Y$ have a chi-square distribution with 15 degrees of freedom, let $X$ have a chi-square distribution with 5 degrees of freedom, and let $Y=X+Z$, where $X$ and $Z$ are independent...
A large aircraft manufacturer produces a passenger jet having a navigation component consisting of three sequentially functioning redundant navigation systems that will allow the jet to be properly...
Define MOM estimators in each of the following cases. Are estimators consistent? Are they asymptotically normal? (a) Estimating $\mu$ and $\sigma^{2}$ based on a random sample from a normal...
Bruce drives his car for his job. The equation R=0.575m+42 models the relation between the amount in dollars, R, that he is reimbursed and the number of miles, m, he drives in one day. Find the...
on 8 For the following set of lengths 130, 170, 160, 160, 150, 190 Third quartile is: et red d out of Select one: O a. 160 a question O b. 145 O c. 175 O d. 180
We had illustrated that rotations in three dimensions are non-commutative or non-Abelian through the example of rotating a coffee cup about two orthogonal axes in two different orders. While a very...
In Example 8.3 , we introduced a simple quantum system involving an electrically charged, spin- $1 / 2$ particle immersed in a uniform magnetic field. In this exercise, we will continue the study...
7.3 From the construction of the S-matrix, we had identified the interaction matrix as that which encodes the non-trivial reflection and lack of transparency off a potential. In this problem, we'll...

Explain the differences between First In First Out (FIFO), Weighted Average, and Last In First Out (LIFO)

Question:

Expert Answer:

Solution The FIFO method LIFO method and Weighted Average Cost method are three ways of valuing you... View the full answer

Students also viewed these general management questions