How to Find the Units Sold With the FIFO ... Add the value of inventory purchases to your beginning inventory and then subtract ending inventory. Suppose you start the month with $10,000 in ...

Carry over the ending value of finished goods from the previous year to be used as the beginning inventory for the current year. For example, if the ending finished goods inventory for 2010 was $ ...

Beginning inventory is the book value of a company’s inventory at the start of an accounting period. It is also the value of inventory carried over from the end of the preceding accounting period.

Cost of goods sold (COGS) is defined as the direct costs attributable to the production of the goods sold by a company.