Inventory

Sriram Somayajula Admin

The amounts given are not inventory movement but of closing stock - they are correct

Thread Starter

Closing stock amount given under lifo should be given under fifo and vice versa that is what i think

Sriram Somayajula Admin

Well, unfortunately you are incorrect. Closing stock figures are correct.

Thread Starter

Closing stock amount given under lifo should be given under fifo and vice versa that is what i think

CA Suraj Lakhotia Admin

FIFO - issue will happen from earlier receipt. SO. you will issue 500 units @ 50 and you will be left with 500 units @60 LIFO - issue will happen from last receipt. So you will issue 500 units @ 60 and will be left with 500 @50

Sriram Somayajula Admin

Well, unfortunately you are incorrect. Closing stock figures are correct.

Thread Starter

Say where did I do wrong