Solved

LIFO Valuation in Excel

Posted on 2009-05-18
8
4,488 Views
Last Modified: 2012-05-07
Hi everyboydy, I found in this amazing web page a solution from Rory to value inventories using FIFO method. I´m having a hard time trying to adapt it to LIFO. Any one can help me?
I´m attaching the original spreadsheet for the FIFO valuation.
Thank you!
FIFO-test-with-chrono.xls
0
Comment
Question by:MarioTorres
  • 3
  • 3
8 Comments
 
LVL 4

Expert Comment

by:BobP
ID: 24413683
I think it already caters for LIFO.

Put =B2*c2 in F2 and then in F3 add

=FIFO(B$2:B3,C$2:C3,D$2:D3,E3,TRUE)

and copy down
0
 

Author Comment

by:MarioTorres
ID: 24413977
Thank you BobP, but it doesnt solve the problem....
I have the following data:
datePurchased      Price       Sold        Start Inventory      FIFO      LIFO
26/08/2002      5      2      0      0      10      10
27/08/2002      10      3      0            40      40
28/08/2002      0      0      12            9      6
30/08/2002      15      4      0            69      66
31/08/2002      0      0      8            40      34

But your solution doesnt give me the right LIFO...
Than you for your interest!!  Im still trying to get it right...
0
 
LVL 4

Expert Comment

by:BobP
ID: 24414506
You seem to be missing the quantiuty in there. Can you post the workbook with these new numbers?
0
3 Use Cases for Connected Systems

Our Dev teams are like yours. They’re continually cranking out code for new features/bugs fixes, testing, deploying, testing some more, responding to production monitoring events and more. It’s complex. So, we thought you’d like to see what’s working for us.

 

Author Comment

by:MarioTorres
ID: 24414726
Thank you very much for your help BobP.! Im attaching the file with the numbers and the LIFO column which I want to get to.

Best!
FIFO-test-with-chrono.xls
0
 

Author Comment

by:MarioTorres
ID: 24414767
Sorry BobP, I made a mistake with the ranges in the formula. This is the right one!

FIFO-test-with-chrono.xls
0
 
LVL 4

Accepted Solution

by:
BobP earned 250 total points
ID: 24420078
I fail to understand where you get your predicted values of 10, 40, 6, 66, 34. According to my workings, they should be 10, 40, 9, 69,40, and that is exactly what this formnula gives as well

=FIFO(B$2:B3,C$2:C3,D$2:D3,$E$2,TRUE)
0

Featured Post

What is SQL Server and how does it work?

The purpose of this paper is to provide you background on SQL Server. It’s your self-study guide for learning fundamentals. It includes both the history of SQL and its technical basics. Concepts and definitions will form the solid foundation of your future DBA expertise.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Introduction This Article is a follow-up to my Mappit! Addin Article (http://www.experts-exchange.com/A_2613.html), it was inspired by an email posting I made to EUSPRIG (http://www.eusprig.org/index.htm), I will briefly cover: 1) An overvie…
Freeze panes is an option within all variants of Excel to enable parts of a sheet to remain stationary when the cursor is in another part of the sheet. This is a very useful feature which is overlooked or under used.
This Micro Tutorial demonstrate the bugs in Microsoft Excel for Mac with Pivot Charts.
Many functions in Excel can make decisions. The most simple of these is the IF function: it returns a value depending on whether a condition you describe is true or false. Once you get the hang of using the IF function, you will find it easier to us…

773 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question