LIFO Inventory Method

This video explains the LIFO inventory cost assumption (last in, first out). An example is provided to illustrate how LIFO is used to calculate cost of goods sold and ending inventory.
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[@12370david]

2 hours in a classroom and my professor couldn't explain inventory in a manner that most of us could understand. This guy did it in 8 minutes, kudos.

[@bigdeweyj]

I was trying to follow along in my book and got confused. Listend to this vid once and I understand. This is a godsend.

[@Edspira]

Happy to hear that!

[@myrnarod9299]

I understand now FIFO and LIFO. Thanks so much.

[@Edspira]

Awesome!

[@xAliensful]

Seriously, I was doubting myself for changing my major accounting but now I realize it wasn't a bad decision. Some of my accounting professor just aren't great at explaining certain material which is unfortunate. You explain things with such ease! Thanks for re inspiring me !

[@ataxia5304]

You know it's kinda crazy. If you hadn't uploaded these FIFO/LIFO videos I'd probably have spent countless hours still trying to figure this out. In concept it's actually simple but the textbook I have and my teacher's prerecorded lectures make it so much more confusing than it is. Thank you.

[@Edspira]

Glad I could help!

[@elperrodelace]

this is amazing, why can't my professors explain it like that? ugh! thanks, very helpful video.

[@nidoruzi]

9 years later and you explained it so much better than other sources I've been looking at.

[@angelsheeley8088]

I'm in an accounting class and can't wrap my head around costing methods for the grade of me. You are able to explain very well and it is coming clear. I have certainly subscribed to see more and I don't subscribe very often. Thank you so much!

[@Edspira]

Awesome. Thanks for subscribing Angel!

[@angelsheeley8088]

No problem! Keep posting and keep on inspiring!

[@Duaasb]

This saved my life... in regards to my accounting finals lol

[@habibi_nation3673]

Same here man mashallah

[@gabriellebrunner1610]

I cannot say thank you enough. I'm so grateful for this. You explained it better than anyone has!!! Thank you!!

[@MichaelOnRockyTop]

God bless you Sir. My online sit for doing my accounting homework uses the most convoluted way to do this without much explanation behind why. Your details make so much more sense and have allowed me to solve the problems correctly on my own. I can't thank you enough

[@joshjanssen3357]

My professor spent 3 class periods trying to explain this concept... You did it in 8 minutes

[@Edspira]

Glad you found the video helpful!

[@ronzonmusic]

I cannot explain how much this has helped me! Thank you all.

[@Lava589]

Great video! This explains so much more that was not really touched on in my class. Thank you!

[@MegsMusic25]

I cannot thank you enough for these videos. My college professor does not explain any of this and a lot of us are really struggling. If I hadn't found these videos, I'd definitely be failing....

[@brenstanbrownee581]

Thanks So Much!.. I've been struggling with this specific topic for weeks until I came across this video.

[@ryangarcia3912]

Thank you for helping me I did not understand FIFO and LIFO from my professor, he goes quick in class but you made it really simple and easy to catch on to.

[@madelinesnow2052]

I was struggling with my homework before I found this video and now I understand! You're a LIFO saver! :D

[@dobakito]

I had been lost on this for a long time, this really helped.

[@anhphuongnguyen7665]

wow just awesome! I am studying in an university in Germany and I still couldn't understand this after TWO WEEKS of learning and now with just your 8min video I can get it omg thank you so much!!

[@Gorecore98]

I feel like you need to be my professor because I finally passes my test after trying on my own and trying to cheat. I couldn't understand what was being taught to me. Seeing this video. I passed in under 20 minutes. Keep it simple. It works

[@clarissamartinez8004]

Amazing! You were right to the point, the book I'm using for my accounting class isn't thorough and my professor made it more complex then what it is. Thank you!!

[@sairysegarra8695]

I just want to say, thank you for this explanation.

[@brendancarmona4521]

Explained perfectly in 8 minutes to what my teacher failed to explain in an hour and a half. Thanks.

[@Edspira]

Ha! I'm glad you found the video useful. Best of luck in your class!

[@maxbolton2555]

Thank you so much Michael! I wasted so much time with the class-provided McGraw Hill modules that just skipped over everything, but watching this helped me so much!

[@myflymkultra268]

Mcgraw Hill = hell

[@MyFinancialFocus]

Love creative accounting methods like FIFO and LIFO!

[@starfish11ish]

Thank you very much, I understand so much better now. I would have emailed my professor,yet with the short responses, I feel I'm bothering when actually I'm the one paying for his time. Thank you again for your time!

[@kronosrocks2591]

You just helped me study for my final, sir. Thank you!

[@treyrussell5120]

Fr thank you so much, my accounting class made this way more confusing than it needed to be and now i totally understand this!!!!

[@josicatimuaydatuwata5909]

8 minutes vid change my life lol. Thank you so much, I read a lot of books and it made me more confused

[@7222487]

Your videos are excellently explained and just concise enough. Thank you!

[@Edspira]

Happy to help!

[@swanauto47]

Thank you for this video, you’re a really good teacher!

[@yungladii1]

The clearest example I have been able to find.

[@neida9149]

Thank you 🙏 , you are a life saver . I learned more watching this video than reading the chapter.

[@findingbigfootwithbothhand507]

I didn't focus during class and so this is saving me from my own stupidity. Very helpful video. Thank you

[@ellenaadrianna3977]

Easy to understand. Thank you. God bless ya!

[@gabriellaengle7706]

thank you so much for helping me to understand LIFO!

[@enriquebn4853]

Just wanted to thank you for making this videos. They are life savers for me. Very clear explanations.

[@Edspira]

Glad you like them!

[@JamesHanzimanolis]

Great video! Explained very well.

[@febinbarose3741]

Thanks for simplifying it..you are a good teacher!

[@graceswift7007]

This is the best explanation ever and saved me so much time. Thank you!!!

[@anisa4668]

This is the best video explaining LIFO!

[@alejandrohernandez7340]

took my professor an hour and a half to teach us LIFO, FIFO, Average Cost Inventory, Periodic, and perpetual.
It only took you 30 minutes to teach me everything!

[@champagnepapi1359]

Thanks man! This video legit taught me more than my professor has lol

[@denisecrosby4534]

Great explanations of costing methods. Thank you!

[@Edspira]

+Denise Crosby Thanks!

[@Chris-fe1kx]

Thank you so much! Explained 10x better than my teacher.

[@JulianaFerreira-mc7tc]

im literally in love with you because of all your videos thank you so much

[@JR-oi2cf]

both videos are very helpful. thank you

[@brendanmclaren1111]

This saved me, thank you for the clear description!!

[@dekhakiin1113]

Thank you so much. You have really explained in an easy way for someone to understand because I couldn't get how my lecturer explained and I hav CAT next next week 🤗

[@sylviamcdonald2187]

Thank you so much for posting this video!

[@veronicalewis5195]

Thank you for explaining this sooo well!! I have an exam tomorrow and I was freaking out about calculating lifo and fifo. After watching these videos I feel more confident about that section of the exam !! Thank you again

[@Edspira]

You got this!

[@Saf3i]

It's really helpful! I just understand everything by this video 💙💙

[@ArtaD]

Thanks a million for your video. :) You're the best

[@madskills1485]

Thank you so much sir for spending some of your time explaining these terms. You are very good at it and very natural. And honestly even better than my university teachers :D. So easy to understand when you explain it. Thanks again, you are doing an amazing work!

[@Edspira]

Thanks Mario! Comments like these get me inspired to keep making more videos :)

[@saratursun295]

This video helped me a lot , way more batter than my class. Thanks so much.

[@Edspira]

+Sarigul Tursun It's my pleasure. Have a great winter break!

[@hoyamelmaachi440]

Thank you so much !! This really helped me!

[@estellahermione6837]

Thank you so much for all of your videos. God bless!

[@bedroomguitarist8681]

This was really helpful.. good stuff bro!

[@sierracriesintheshower]

god bless you sir, you made so much sense that my professor could not.

[@KippsyFactor]

Great explanation and examples this helped!

[@IanChoiAK]

Thank you very much. This video helped me alot!

[@alaniz1981]

Very helpful! Thanks for the post!

[@KensteLord]

Great video, I'm exam ready now!

[@user-rb2lm9fg8n]

I'm gonna have a test soon ^^ thanks for your Videos!!! It really help me a lot !!!

[@javo.illanes]

a very informative and excellent video, thank you, very much for this

[@balepamartinl]

Very Clear:) I love it

[@alaasalah8986]

Honestly u saved my life!! Thank u

[@andreacardenas3167]

God bless this video! The best explanation yet!

[@Edspira]

Thanks!

[@yolow69]

Thanks for answering the whys!!!!

[@MS-uf3ex]

Thank you so much!! I understand FIFO and LIFO now!

[@Edspira]

Awesome!

[@sarinyatean1651]

I speak second language, so it's hard for me to understand to from the book. This video is so easy to understand. Thank you so much

[@Jessica-jp7vu]

I love how simple you explain it
I just get confused when the questioned are formed in a different way :[
thank you for your great Explanation

[@juanarispe3371]

great video thank you I think I learned more here than at my class :)

[@sharonmashar6554]

Woow this video really helped .Thanks

[@EuleneChen]

Fantastic video! Thank you very much!

[@louissalfi7263]

you're elite at your job sir.

[@david_sgnhm3131]

You made my day man

[@jessicasparkle2441]

This is really help me! Thank you so much ✨👍

[@AsifKhan-md4tc]

this is so clear wow thx bro

[@PureColorsOG]

THANK YOU SO MUCH I REALLY NEEDED TO LEARN THIS I HAVE A TEST IN 30 MIN

[@johnrovicgerong433]

Thank you sir for the helpful explanation made understand more of the 2 lifo and fifo

[@Appleaddict22]

You kind of sound like Will Ferrell when he's being serious. Great videos btw, helped a lot!

[@flemingdcosta1705]

Thank you for saving my life sir

[@llc]

Very useful video. Thanks.

[@andrewl.miller8000]

wow he makes it easy to follow

[@daddypure1861]

THANK YOU SO MUCH SIR YOU MAKE ACCOUNTING SO SWEET THANKS

[@abigailgarcia2634]

You're amazing, thank you so much!

[@camilosanchez5696]

Thank you dearly, you helped me understand the final exam question....Sir!

[@slugbeater]

YES THE FIFO AND LIFO HAVE MATCHING VALUES SO I CAN COMPARE BETWEEN THE DIFFERENT INVENTORY METHODS BETTER. THANK U

[@kachow9]

loved the video, especially because of the crickets in the background

[@mooncores8128]

Thank you for this, sir🥺💖.

[@Anneeeeee96]

Hi, may I know if this method if for periodic or perpetual systems?

[@CultureLover2009]

Wow you are an excellent teacher . Thank you so much!

[@Edspira]

Thank you! 😃

[@jasminesanchez9035]

Thanks for the explanation. My problem is always remembering the step by step process that is required to do these problems. ):

[@arjuncheema8248]

Better than textbook explanation

[@celesterubio7606]

Dude, you rock. Thanks!

[@Edspira]

This made me smile. Thanks!

[@NathalieMondesir]

Thank you so much

[@maxameddeeq4442]

thanks very well this videos helped me too much

[@Edspira]

No problem Maxamed. Thanks for watching!

[@narayanipreyatama]

Thank you sir now I understand