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author's profile photo Former Member
Former Member

FIFO settings

Dear Friends

In case of FIFO for stock management, I want to know weather

a) the costing is done on the FIFO movement of the materials or on MAP price

b) the FIFO concept is used for accounting purpose only and not for the actual stock movement.

c) What are the important points to be taken in consideration while using FIFO.

With Regards

Sanjeev

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  • author's profile photo Former Member
    Former Member
    Posted on Apr 01, 2008 at 09:21 PM

    In case of FIFO for stock management, I want to know weather

    a) the costing is done on the FIFO movement of the materials or on MAP price

    Costing is done based on the Std price not MAP and info record

    b) the FIFO concept is used for accounting purpose only and not for the actual stock movement.

    FIFO can be used for stock movement also but to use that you have to have the batch management with self life expiration date and if you have wrehouse implemented then you can easily track all this movement based on FIFO

    c) What are the important points to be taken in consideration while using FIFO.

    you need Batch management with SLED active for stock movement

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