Hello. I didn't understand the assumption you stated when describing the 60 units in ending inventory. But as for the rest of the vid, I understood it clearly. Thanks a lot for these videos.
in the practice question 22-27 learning module 6 they mentioned the adjustment from LIFO to FIFO. Do you know if we can have an explanation on this convert and also from FIFO to LIFO (if any)?
I noticed that calculating FIFO and LIFO are now removed from the 2024 exam, am I correct? I can see only the implications of them in the evaluation of inventory, not the calculations themselves.
Hello. I didn't understand the assumption you stated when describing the 60 units in ending inventory. But as for the rest of the vid, I understood it clearly. Thanks a lot for these videos.
This guy is the Goat 🐐
THANK YOU!
please make some vids on Income Tax. Love your content
Thank you somuch🙏 I promise to record series on this topic in January
in the practice question 22-27 learning module 6 they mentioned the adjustment from LIFO to FIFO. Do you know if we can have an explanation on this convert and also from FIFO to LIFO (if any)?
I noticed that calculating FIFO and LIFO are now removed from the 2024 exam, am I correct? I can see only the implications of them in the evaluation of inventory, not the calculations themselves.
Yes, aboslutely right. I have included these videos in the playlist so that we have a good grasp of how these assumptions work in practice.
why 'must' the price be $58?
Because under the FIFO assumption the 60 units left in ending inventory must come from the second purchase which was made at this price.