3-2-1 summary by Sabeen Murtaza https://padlet.com/nottinghamcollege/36731zr7n9boismk Create a post with 3 things you learned, 2 things you want to know more about, and 1 question you still have. en-us 2025-06-03 12:44:20 UTC 2025-06-03 19:34:23 UTC hello@padlet.com https://padlet.net/icons/png/1f5f3.png https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477770936 FIFO, LiFo, Avco

]]> 2025-06-03 19:31:15 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477770936 https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771168 Calculate these:

Fifo first in first out

Lifo last in first out

Avco average cost

]]> 2025-06-03 19:31:38 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771168 https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771280 FIFO, LIFO, AVCO, LABOUR COSTS

]]> 2025-06-03 19:31:50 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771280 https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771325 FIFO- Fist in first out

LIFO-Last in last out

AVCO - Average cost

]]> 2025-06-03 19:31:51 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771325 https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771511

  • LIFO is no longer a valuation method of IAS II

    • ]]>     2025-06-03 19:32:08 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771511     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771633 Fixed variable semi variable

    Fifo lifo avco

    Categories of materials or inventory

    ]]>     2025-06-03 19:32:18 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771633     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771828 How to calculate labour cost

    How to calculate material cost

    FIFO, LIFO, AVCO

    ]]>     2025-06-03 19:32:35 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771828     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771876 FIFO

    LIFO

    AVCO

    ]]>     2025-06-03 19:32:41 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771876     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771975 FIFO, AVCO, LIFO

    ]]>     2025-06-03 19:32:52 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477771975     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772013 FIFI

    LIFI

    AVCO



    ]]>     2025-06-03 19:32:57 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772013     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772095 Material cost

    Labour cost

    Calculation (need practice)

    ]]>     2025-06-03 19:33:05 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772095     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772132 Previous lesson

    ]]>     2025-06-03 19:33:08 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772132     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772239 Material cost

    Fifo

    Lifo

    Avco

    I

    Calculating inventory

    ]]>     2025-06-03 19:33:18 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477772239     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773552 Top bottom method

    ]]>     2025-06-03 19:34:22 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773552     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773630 About product cost: direct material, direct labour and overheads

    Methods used for inventory

    -fifo

    -lifo

    -avco

    Labour cost


    ]]>     2025-06-03 19:34:30 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773630     https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773790 Methods of evaluating inventory;

    First in first out

    Last in first out

    Average cost

    High inventory means more tax

    And so much more but have to process it in my head 😉

    ]]>     2025-06-03 19:34:45 UTC https://padlet.com/nottinghamcollege/36731zr7n9boismk/wish/3477773790