📢 Full course at a special price of only $10.00 found here: bit.ly/3m74DZ6 ($39 value).
⌚Timestamps
0:00 - Introduction
0:48 - Physical Flow Schedule
1:44 - Equivalent Units Calculation
5:24 - Cost Per Equivalent Unit
7:56 - COG Transferred Out and EWIP Valuation
16:08 - Cost Reconciliation
In this lesson I'll be creating a production report using an example problem, but this time, I'll be using the FIFO method. The FIFO method will affect our equivalent units, cost per equivalent unit as well as our cost of goods transferred out and EWIP account. It's a complicated method for process costing, but it should be learned as a CPA concept.
At the end, I'll illustrate the logic behind FIFO and we'll look at a comparison of the two methods!
Website: www.notepirate.com
Follow us on Facebook: pages/Note-Pirate/514933148520001?ref=hl
Follow us on Twitter: notepirate
We appreciate all of the support you have given us. Be a part of the mission to help us reach more students by subscribing, liking and adding the videos to your favorites!