FIFO/LIFO Inventory Calculator
Compare FIFO and LIFO inventory valuation methods.
Understanding Inventory Accounting
How you value your inventory can have a significant impact on your financial statements. This calculator demonstrates the difference between FIFO and LIFO, two of the most common inventory valuation methods, helping you understand their effect on your cost of goods sold and profitability.
How to Use the FIFO/LIFO Calculator
Enter Purchases
List all your inventory purchases in chronological order.
Enter Units Sold
Input the total number of units sold during the period.
See Results
The calculator automatically shows COGS and ending inventory for both methods.
Compare Methods
Analyze the difference in profitability and inventory value.
Common Use Cases
Calculate COGS and ending inventory for your income statement and balance sheet.
Understand how different accounting methods affect the valuation of your inventory.
See the financial impact of using FIFO versus LIFO, especially during times of changing costs.
A practical tool for accounting students to understand and apply inventory valuation concepts.