FIFO Inventory Example

The most common inventory method deserved another example. In this episode we run through an example of FIFO. If you want to learn more about the method overall watch our original video on the subject: https://www.youtube.com/watch?v=OOORjkeLjXU

Besides just doing a FIFO inventory example we also focus on some common test questions such as how to determine your inventory balance and cost of goods sold. We try to look at those questions from two techniques that may be helpful.

0:00 Intro + Activity 1
0:26 Activity 2
0:50 Activity 3
1:06 Activity 4
1:32 Activity 5
2:03 Inv. Balance Alternative
2:59 COGS Alternative
3:39 Outro

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