FIFO & LIFO Stock Model
Originally published: 12/10/2020 13:02
Publication number: ELQ-16113-1
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FIFO & LIFO Stock Model

LIFO FIFO Stock Model (Monthly / Quarterly)

This is a stock model for both FIFO and LIFO methods.
It consists 48 periods and can be used for either a monthly or quarterly view of stock.
The model has several different sections:
P&L for stock, Balance Sheet (units and value), Production Schedule, Revenue Schedule, COGS Schedules and Inventory Schedules.
Any changeable inputs are highlighted as yellow cells. These are Monthly/Quarterly views of stock, Beginning date for the model, Opening stock balances (both methods), Production costs, expected demand and growth rates of all of the above.
The COGS section gives both units and value for both methods, including a weighted average cost per unit.
The Inventory Schedules are a little more complex and have four waterfall tables. The main two of interest are the Closing balance waterfall and the Old units sold waterfall (the latter due to it helping to generate a weighted cost for both methods). The other two (new units added and total units sold) are for calculation purposes only.
These tables show how production for a particular period is later sold, how it forms part of the closing stock balance and if there is any stock leftover from sales that is then added to the overall closing balance (mainly LIFO).
The model is therefore comprehensible in giving stock figures, but more importantly is easy intuitive and easy to use.

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