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Automatically evaluate cost based on FIRST IN FIRST OUT

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(@subashsd)
Posts: 8
Active Member
Topic starter
 

Dear All,

I thank all for your assistance in solving this typical problem of mine in advance.

I have in column H the weight of a certain product and in column I the price per kg of the same.

In column D I have the weights that I received on different dates.

I want a formula to calculate the value of the weight I received in column E

Let me explain:

I purchased 70.91 kg at 177.5

I received 1st consignment of 31.17 kg (D3) so the amount in column E3 =D3*I3

I received 2nd consignment of 31.17 kg (D4) so the amount in column E4 =D4*I3

I received 3rd consignment of 31.19 kg (D5) so the amount in column E5 has to be =((((H3-(SUM(D3:D4)))))*I3)+((D5-((H3-(SUM(D3:D4)))))*I4)

and so on so forth with the other prices and weights.

Is there a single formula which can calculate based on the above FIRST IN FIRST OUT basis the price of each consignment received in column D

Thanks and best regards,

Subash  SD

 
Posted : 24/11/2020 1:01 pm
(@mynda)
Posts: 4761
Member Admin
 

Hi Subash,

FIFO calculations are not straight forward, but this post explains how to create them.

Mynda

 
Posted : 24/11/2020 10:43 pm
(@subashsd)
Posts: 8
Active Member
Topic starter
 

Thank You so much Mynda.

 
Posted : 25/11/2020 12:18 pm
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