Question
The materials management of a company deals with the tasks of supplying the company with material and controlling the material flow. Warehousing, in which
The materials management of a company deals with the tasks of supplying the company with material and controlling the material flow. Warehousing, in which the FIFO procedure is used, is a subtask The FIFO procedure (First In-First Out) assumes that the goods purchased first are also used first. This applies, for example, to perishable goods in the supermarket (what was in the warehouse first should be sold first). Example FIFO A company buys 50 units of product X at a price of 10 piece (value of goods 500). Later he buys another 20 units of the same product X at a pace of 5 /preco (value of goods 100 ). There are now 70 units of product X in stock with a value of 600. Then 30 pieces of product X are removed from the warehouse. These are with 10 piece charged (value of goods 300), because due to the FIFO procedure, the first stored units are removed first. At the end there are 40 units of product X with a value of 300 in stock Please add the following red marked areas of the table using the FIFO procedure and pay attention to the signs. Date 01. January Stock (pieces) 200 Change in Units (pieces) Price Change in (Purchase and Removal) (C/piece) Value of Goods Total Value of Goods (c) 10 15 3.000 200 15. January +30 (Purchase) 20 +600 230 3.600 01. February 230 (Removal) 2.850
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started