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Inventory Method Calculator

Enter P (purchase) or C (cost), Units, and then Cost:

  
    

How does the Inventory Method Calculator work?

Free Inventory Method Calculator - Takes accounting entries using the FIFO (first in first out) and LIFO (last in first out) inventory methods.
This calculator has 1 input.

What 3 formulas are used for the Inventory Method Calculator?

Units in Ending Inventory = Units available for sale - Units Sold
Ending Inventory (LIFO) = Units in Ending Inventory * Last Cost Entry
Ending Inventory (FIFO) = Units in Ending Inventory * First Cost Entry

For more math formulas, check out our Formula Dossier

What 4 concepts are covered in the Inventory Method Calculator?

FIFO
First In, First Out is an accounting method in which assets purchased or acquired first are disposed of first
LIFO
Last In, Last Out is an accounting method in which assets purchased or acquired lasst are disposed of first
cost
an amount that has to be paid or spent to buy or obtain something
inventory
a complete list of items such as property, goods in stock, or the contents of a building