Process costing FIFO method | Work In Progress | AVCO | Equivalent units

The video is on ways to value Output of a process using the two different approaches namely FIFO and AVCO (Weighted Average Method). We take a look at work-in-process units as well as finished units. We learn how to establish statement of units as well as statement of equivalent units. #Work_in_progress #Equivalent_units #FIFO_and_AVCO

[@remmienansubuga2461]

Thank you for this tutorial. Have now understood this had topic

[@hybridaccounts]

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[@amandathamel4114]

OMG!!! Thank you soo much Sir!!! I didn't understand anything when my lecturer was teaching us this topic. Now I understood very well from your video!!!

[@hybridaccounts]

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[@timothyarogundade2936]

Thank you very much Sir for this tutorial. God bless you.

[@hybridaccounts]

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[@reyannesterling4275]

Thank you so much. This video was helpful. I spent three days trying to figure out the solution to a question given, and now it makes sense to me.

[@hybridaccounts]

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[@senisacramer2253]

Thank you.

[@hybridaccounts]

You are welcome penpal.
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[@penieyzyhah8651]

Very good explanation. Thanks.

[@hybridaccounts]

You are welcome buddy.
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[@tanaartsvinu]

Shouldn’t fresh input to FG in FIFO method be 5000 units (10000 units-5000 units from OWIP) instead of 7000 units?

[@hybridaccounts]

Hello.
Why?
FG are 12,000 in total and 5,000 come from OWIP so only 7,000 units remain.
Compare input and output.
You can SUBSCRIBE FOR REGULAR UPDATES and see another video on FIFO method here ruclips.net/video/fFhM7XHm51Q/видео.html

[@bootsprovido5720]

your tutorial is amazing!! thank you

[@hybridaccounts]

You are welcome buddy...
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[@hybridaccounts]

You can comment on issues not so clear penpals.

[@byamugishaivan237]

Asante

[@hybridaccounts]

Karibu sana.
Welcome.

[@MaryEne-bv2hd]

Sir where did you get the fresh input to FG from am confused there's no 700 on 100 percent in the question

[@hybridaccounts]

Hello Mary.
Take Finished Goods
minus
OWIP to FG.

[@hybridaccounts]

WhatsApp me on [phone] for more clarification.

[@kaunghtet4515]

Fresh input shouldn't be 10000 units? Why is it 7,000 units, sir?

[@hybridaccounts]

Read carefully.
Fresh input to FG 7,000
Fresh input to CWIP 3,000
That gives a total of 10,000 for fresh input.

[@josephchilonge2593]

30% and 20% was complete but why are you using the 70% and 80%

[@hybridaccounts]

Listen and understand.
If you open with 20% and complete with 100%, what % have you done?
Isn't 80%? The difference.
Do not just copy the numbers my friend.
I showed you in the workings that you consider the work done as the difference between closing and opening percentages.
Again, listen and watch to understand my friend.