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I keep record on a few items at the time of purchase and sale.

Customer Question

I keep record on a few items at the time of purchase and sale. On the purchase sheet I indicate the date of purchase, item, quantity, cost and invoice #. On the sale sheet I keep record of the date of sale, quantity and item. Here’s my problem: I’m trying to figure out a way to calculate the cost of goods sold based on the fifo inventory method. For example: I purchased 10 fans for $10. Later on I purchased the same item at a different price - $12. According to the sale I sold 11 fans. I would like to record the first 10 fans at the price of $10 and the remaining balance at the $12 cost. Im looking to work only with functions not with VBA. Also can I attach my work sheet so you can see the details?
Submitted: 1 year ago.
Category: Microsoft Office
Expert:  The-PC-Guy replied 1 year ago.
Thanks for using JustAnswer. My name isXXXXX will do whatever I can to answer your question

sure, why don't you attach a copy of the sheet and ill take a look
Customer: replied 1 year ago.

K please see attached the file


My problem is in sheet 2 where I put the question mark

Expert:  The-PC-Guy replied 1 year ago.
ok, I don't see the sheet though.
Customer: replied 1 year ago.

im getting an error when I try to send the file


Access Denied

You don't have permission to access "http://www.justanswer.com/microsoft-office/7ss1u-keep-record-few-items-time-purchase-sale.html" on this server.


Reference #18.af220e6b.1370377496.ed660a

Expert:  The-PC-Guy replied 1 year ago.
try a 3rd party site

www.wikisend.com

after uploading you will be given a download link

paste that here
Customer: replied 1 year ago.
Expert:  The-PC-Guy replied 1 year ago.
I am not seeing a solution too this. I hope another expert can help you with this
Customer: replied 1 year ago.

how do I get in contact with another expert? I'm still waiting.. Approx. how long is the wait time?

Expert:  Lindie-mod replied 1 year ago.
Hi, I’m a moderator for this topic. It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you right away with your Microsoft issue, but sometimes finding the right professional can take a little longer than expected.

I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you. Thank you!

Lindie
Customer: replied 1 year ago.

Please go ahead. Can you let me know approx wait time?

Expert:  Lindie-mod replied 1 year ago.
Hi

Thank you for your continued patience. We will continue the search for a professional for you.

Lindie
Customer: replied 1 year ago.
can you please let me know approx how long will I still have to wait?
Expert:  Lindie-mod replied 1 year ago.
Hello,

Sometimes, finding the right Professional can take a little longer than expected and we thank you greatly for your understanding. We’ll be in touch again shortly.

Thank you

Lindie
Expert:  flopcat98 replied 1 year ago.
Let me look at it and get back to you. But i doubt there is going to be any easy solution in excel

Have you considered using something like quickbooks which costs a couple hundred dollars and will take care of all of your billing and inventory and can easily be set up for fifo accounting ?
Expert:  flopcat98 replied 1 year ago.
How many of these things do you do ?

I cant see any way to do it totally automated unless you spent more time and money on some sort of visual basic macro programming than it would cost to purchase a full accounting program such as quickbooks. And it would be cumbersome.

If you dont do too many you could probably just add columns to the inventory with the invoice number and the quantity sold and have it automatically deduct the number sold and leave the remaining number and just manually move down the list and enter the invoice number and quantity sold and have it deduct from the remaining line. If you make a couple of sales a day it would be workable if you make 100 sales a day it would not.
Customer: replied 1 year ago.


ok thanks. I would like to cancel the question. How do I cancel it? and get a refund?

Expert:  flopcat98 replied 1 year ago.
you can emailXXX@XXXXXX.XXX

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