Hi everybody,
I am trying to work out a way to calculate the value of inventory assuming the earliest inventory received is issued out first. I have pasted in a sample dataset below as a guide.
Per the below, the fuel issues on November 1st and 2nd would be costed at $0.90, and the issue on November 3rd at a combination of $0.90, and $0.70 from the fuel delivery on November 2nd. The next issue on November 3rd would be priced at $0.70.
I have tried and failed to figure out how to do this myself. Is anyone able to offer any help or advice?
Many thanks
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I am trying to work out a way to calculate the value of inventory assuming the earliest inventory received is issued out first. I have pasted in a sample dataset below as a guide.
Per the below, the fuel issues on November 1st and 2nd would be costed at $0.90, and the issue on November 3rd at a combination of $0.90, and $0.70 from the fuel delivery on November 2nd. The next issue on November 3rd would be priced at $0.70.
I have tried and failed to figure out how to do this myself. Is anyone able to offer any help or advice?
Many thanks
Fuel out | Fuel in | |||||||||||||
Date | Amount | Cumulative | Price | Date | Amount | Cumulative | Price | |||||||
01/11/2017 | 69 | 69 | ? | 31/10/2017 | 250 | 250 | 0.9 | |||||||
01/11/2017 | 21 | 90 | ? | 02/11/2017 | 300 | 550 | 0.7 | |||||||
01/11/2017 | 14 | 104 | ? | 08/11/2017 | 250 | 800 | 0.8 | |||||||
01/11/2017 | 35 | 139 | ? | 13/11/2017 | 300 | 1100 | 0.6 | |||||||
02/11/2017 | 78 | 217 | ? | |||||||||||
03/11/2017 | 40 | 257 | ? | |||||||||||
05/11/2017 | 94 | 351 | ? | |||||||||||
05/11/2017 | 64 | 415 | ? | |||||||||||
07/11/2017 | 10 | 425 | ? | |||||||||||
08/11/2017 | 35 | 460 | ? | |||||||||||
08/11/2017 | 31 | 491 | ? | |||||||||||
08/11/2017 | 20 | 511 | ? | |||||||||||
09/11/2017 | 90 | 601 | ? | |||||||||||
12/11/2017 | 60 | 661 | ? | |||||||||||
12/11/2017 | 50 | 711 | ? | |||||||||||
13/11/2017 | 28 | 739 | ? | |||||||||||
13/11/2017 | 32 | 771 | ? | |||||||||||
14/11/2017 | 12 | 783 | ? | |||||||||||
14/11/2017 | 54 | 837 | ? |
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