Periodic FIFO: Cost Layers, COGS & Ending Inventory
This lesson is part of the course
In this lesson
You allocate the units Cedar & Pine Outfitters sold in 2026 to its cost layers, oldest first, and work out FIFO cost of goods sold, ending inventory and gross margin.
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Lessons in this course
- Periodic FIFO: Cost Layers, COGS & Ending Inventory Locked
- Periodic LIFO and the LIFO Reserve Locked
- Weighted Average Cost with Landed Cost (Discounts & Freight-in) Locked
- Perpetual Moving Average: the Running Stock Card Locked
- FIFO vs Weighted Average vs LIFO: Profit & Tax in Rising Prices Locked
- Lower of Cost and NRV: Item by Item, by Group, and the Reversal Locked
- Stock Count Adjustments & Shrinkage Locked
- Inventory Ratios: Turnover, Days in Inventory & GMROI Locked