May Someone please help me solve this financial problem? Thnakyou. I appreciate all the help that I can get. I thank you inadvance and may Yahuwah bless you. Thanks again. Kindly, ~Diana~=)
FIFO and LIFO
Analyze the following scenario: The Hospital for Ordinary Surgeryuses pharmaceuticals for its patients. It started the year onJanuary 1, with an inventory of 1,000 doses of an antibiotic drugthat cost $17 per dose. On January 2, it purchased another 300 doesfor $21 each. From January 3 through June 30 it used 800 doses. OnJuly 1, it bought 500 more doses at $23 each. From July 2 throughthe end of the year it used 400 doses. What is the inventory valueat the end of the year, assuming FIFO? What is the value assumingLIFO? Clearly label the calculations of the inventory amounts usingExcel. Use formulas to calculate the FIFO and LIFO inventories andformat the cells to insert a comma if there is more than threenumbers and round to the nearest whole number.
Explain the advantages and disadvantages of FIFO and LIFO inventorymethods and evaluate the best inventory method is best for thisscenario.
Also, try to break up the calculations for each scenario. Youcan use the below table to help you get started:
Unified Path General Operating Fund
ASSETS = LIABILITIES + FUNDBALANCE
=
May Someone please help me solve this financial problem? Thnakyou. I appreciate all the help that I can get. I thank you inadvance and may Yahuwah bless you. Thanks again. Kindly, ~Diana~=)
FIFO and LIFO
Analyze the following scenario: The Hospital for Ordinary Surgeryuses pharmaceuticals for its patients. It started the year onJanuary 1, with an inventory of 1,000 doses of an antibiotic drugthat cost $17 per dose. On January 2, it purchased another 300 doesfor $21 each. From January 3 through June 30 it used 800 doses. OnJuly 1, it bought 500 more doses at $23 each. From July 2 throughthe end of the year it used 400 doses. What is the inventory valueat the end of the year, assuming FIFO? What is the value assumingLIFO? Clearly label the calculations of the inventory amounts usingExcel. Use formulas to calculate the FIFO and LIFO inventories andformat the cells to insert a comma if there is more than threenumbers and round to the nearest whole number.
Explain the advantages and disadvantages of FIFO and LIFO inventorymethods and evaluate the best inventory method is best for thisscenario.
Also, try to break up the calculations for each scenario. Youcan use the below table to help you get started:
Unified Path General Operating Fund
ASSETS = LIABILITIES + FUNDBALANCE
=
