FIFO & LIFO Inventory Calculator – Free tool for inventory valuation and COGS calculation

Summary: This free calculator helps accounting students compute cost of goods sold (COGS) and ending inventory using FIFO and LIFO methods. It provides a layer-by-layer breakdown and allows side-by-side comparison of inventory costing methods for accurate financial analysis.

What it does

Users input purchase and sale entries to calculate COGS and ending inventory values under FIFO and LIFO. The tool displays detailed, layer-by-layer valuations and compares both methods simultaneously.

Who it's for

Accounting students and small business owners needing precise inventory valuation for assignments, exams, or financial analysis.

Why it matters

It eliminates manual calculation errors and simplifies comparing inventory costing methods to assess profitability.