FIFO COGS Calculator   Excel template (XLSX)
$75.00

FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
Flevy is the marketplace for business best practices.
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
FIFO COGS Calculator (Excel template (XLSX)) Preview Image
Arrow   Click main image to view in full screen.

FIFO COGS Calculator (Excel XLSX)

Excel (XLSX)

$75.00
This Accounting tool was crafted by an Accountant and Financial Modeler with over 10+ years of global experience. He has served 750+ clients, from small family offices to billion-dollar corporations, across a multitude of industries.
Add to Cart
  


Immediate download
Fully editable Excel
Free lifetime updates

VIDEO DEMO

DESCRIPTION

This product (FIFO COGS Calculator) is an Excel template (XLSX), which you can download immediately upon purchase.

I first came across this problem from an Upwork job query many years ago. I was stumped on it for quite a long time and then one day tried to really think of an outside-the-box solution that would allow the FIFO method to be implemented in Excel so that the calculations for the COGS of inventory could be automatically calculated.

This financial calculator is designed to calculate the Cost of Goods Sold (COGS) value for units sold based on using the FIFO Accounting methodology. FIFO means first in, first out and it can be complicated and tedious to figure out how to value your COGS when purchases happen of a given unit type at different prices over time.

This template comes with a single SKU and up to 5 SKU calculators and allows for up to 100 purchases / 100 sales to happen. A bigger file version is available upon request for up to ~400 purchases / sales, but the Excel file is larger.

Normally, an Accountant would have to go through and figure out how many units that were sold should be priced at purchase price batch 1 and then if more are sold than that, how many are priced at purchase price 2, and so on until the entire units sold for a given batch is fully priced at the proper cost.

In this template, all the user has to do is enter historical purchases (quantity / price) in the order the purchases happened (oldest at the top) and then historical sales and the date of sale (oldest at the top).

The output is the average cost per unit of sold items in a given batch and the total COGS per batch sold and total COGS per month. This template is built to expand easily. More SKUs can be added by making copies of the existing tabs and adjusting the references accordingly.

Got a question about the product? Email us at support@flevy.com or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.

Source: Best Practices in Costing Excel: FIFO COGS Calculator Excel (XLSX) Spreadsheet, Jason Varner | SmartHelping


$75.00
This Accounting tool was crafted by an Accountant and Financial Modeler with over 10+ years of global experience. He has served 750+ clients, from small family offices to billion-dollar corporations, across a multitude of industries.
Add to Cart
  

ABOUT THE AUTHOR

Author image
Additional documents from author: 184
Terms of usage (for all documents from this author)

I graduated in 2011 with a Bachelor's degree in Accounting and began my career as a financial analyst at a small chain of auto repair shops. After gaining valuable experience, I launched my own practice specializing in real estate underwriting, later expanding into general business modeling.

I honed my spreadsheet modeling expertise by completing over 400 projects on Upwork with a 100% success ... [read more]

Ask the Author a Question

Must be logged in

Did you know?
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.
Bundle and save! You can save up to % with bundles!

View bundle(s)




Trusted by over 10,000+ Client Organizations
Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes, from startups and small businesses to the Fortune 100, in over 130 countries.
AT&T GE Cisco Intel IBM Coke Dell Toyota HP Nike Samsung Microsoft Astrazeneca JP Morgan KPMG Walgreens Walmart 3M Kaiser Oracle SAP Google E&Y Volvo Bosch Merck Fedex Shell Amgen Eli Lilly Roche AIG Abbott Amazon PwC T-Mobile Broadcom Bayer Pearson Titleist ConEd Pfizer NTT Data Schwab




Read Customer Testimonials

 
"Flevy.com has proven to be an invaluable resource library to our Independent Management Consultancy, supporting and enabling us to better serve our enterprise clients.

The value derived from our [FlevyPro] subscription in terms of the business it has helped to gain far exceeds the investment made, making a subscription a no-brainer for any growing consultancy – or in-house strategy team."

– Dean Carlton, Chief Transformation Officer, Global Village Transformations Pty Ltd.
 
"I like your product. I'm frequently designing PowerPoint presentations for my company and your product has given me so many great ideas on the use of charts, layouts, tools, and frameworks. I really think the templates are a valuable asset to the job."

– Roberto Fuentes Martinez, Senior Executive Director at Technology Transformation Advisory
 
"As a consulting firm, we had been creating subject matter training materials for our people and found the excellent materials on Flevy, which saved us 100's of hours of re-creating what already exists on the Flevy materials we purchased."

– Michael Evans, Managing Director at Newport LLC
 
"As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor "

– Michael Duff, Managing Director at Change Strategy (UK)
 
"My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me "

– Bill Branson, Founder at Strategic Business Architects
 
"As a young consulting firm, requests for input from clients vary and it's sometimes impossible to provide expert solutions across a broad spectrum of requirements. That was before I discovered Flevy.com.

Through subscription to this invaluable site of a plethora of topics that are key and crucial to consulting, I "

– Nishi Singh, Strategist and MD at NSP Consultants
 
"As an Independent Management Consultant, I find Flevy to add great value as a source of best practices, templates and information on new trends. Flevy has matured and the quality and quantity of the library is excellent. Lastly the price charged is reasonable, creating a win-win value for "

– Jim Schoen, Principal at FRC Group
 
"I have used FlevyPro for several business applications. It is a great complement to working with expensive consultants. The quality and effectiveness of the tools are of the highest standards."

– Moritz Bernhoerster, Global Sourcing Director at Fortune 500




Save with Bundles

This document is available as part of the following discounted bundle(s):

Save %!
Accounting Trackers - Tools for Accountants

This bundle contains 23 total documents. See all the documents to the right.

$249.00


Add Bundle & Save

Save %!
Inventory Trackers and Forecasting

This bundle contains 6 total documents. See all the documents to the right.

$125.00


Add Bundle & Save


Your Recently Viewed Documents


Customers Also Like These Documents

Related Management Topics


Costing Management Accounting Activity Based Costing Cost Reduction Assessment Business Case Development Supply Chain Analysis

Receive our FREE presentation on Operational Excellence

This 50-slide presentation provides a high-level introduction to the 4 Building Blocks of Operational Excellence. Achieving OpEx requires the implementation of a Business Execution System that integrates these 4 building blocks.