how to fifo method in tally 9 gold
fifo
Fifo is a acronym word and it stands for fly in, fly out.
On the Tally Gateway, after selecting the Company, press F12 to get the "Master Configuration" menu. In that menu, select "Allow ADVANCED Entries in Masters" under the Inventories Menu. Change the value to "Yes". Then press <Ctrl> + "A" to save and go into the Stock Item that you wish to modify. On the right hand side, a new panel called "Behaviour" can now be seen, in which one of the items is "Costing Method", which you can change to "FIFO" from the default of "Avg. price"
fifo
method of price asertainment
what is the difference beyween lifo and fifo
FIFO First in first out LIFO Last in last out
FIFO
fifo
cost of production report lifo method fifo method
FIFO (first in first out) is a method of account for inventory. With FIFO, if inventory costs are increasing your cost of goods sold will be lower than under the LIFO (last in first out) method. If inventory costs are increasing, FIFO will result in higher net income (lower COGS) than LIFO. If inventory costs are decreasing, FIFO will result in lower net income (higher COGS) than LIFO.
Using the Robinhood FIFO method can impact your investment portfolio by determining the order in which your stocks are sold, which can affect your tax liability and overall investment returns.