Item price in FIFO

[Former Member]

Hi All

Is it possible to give the item price while choosing valuation method as FIFO???

Thanks.

[ivy_zhang]

Hi Pari,

When you select 'FIFO' as valuation method for an item, it is not possible to set a cost price at that moment. The cost of FIFO item is determined by the incoming price.

For example:

step 1: GRPO with price 10, qty 5 -

---

now there is a layer with cost 10, qty 5

step 2: Goods receipt with price 20, qty 10 -- now another layer is created with cost 20, qty 10

step 3: delivery, qty 8, acording to FIFO item definition (first in first out), the 8 items will be issueed from the above two layers;

First, 5 items from the first open layer (step 1) with cost 5. now the layer is closed as no qty available.

Then, 3 items from next open layer (step2) with cost 10.

So, there may be different cost price for each layer and the cost price in outgoing transaction is based on the incoming price and the sequence of come in.

Regards,

Ivy Zhang

SAP Business One Forums Team