FIFO Inventory valuation without Balance Sheet Valuation

[Former Member]

Our business wants to know if they can have real-time FIFO inventory valuation;

At a give point, When we perform and update the material prices through the Balance sheet Valuation - FIFO procedure; system automatically revaluates the inventory at FIFO with offsetting to an expense account.

However, the requirement is to have FIFO real time without performing any month end tasks/ postings to calculate and update the material prices.

Given that the existing material price controls (S and V); Is the above possible ?

With Material Ledger; some of the standard functionalities can be leveraged i,e to have one valuation for std/ actual and the other to have FIFO valuation but the business thinks this is too much of an effort to maintain this functionality. Since, even for this option - the business has to run month end jobs.

Thanks !

[waman_shirwaicar · Accepted solution]

Hi,

Please have a look at note 1402500, which contains some information concerning FIFO calculation within Material Ledger

regards

Waman

[ajaycwa1981]

Hi

Real time FIFO valuatopn is some thing which would require ML...

however, there are companies who valuated the inventory based on FIFO at period end w/o any use of ML...

I am not very sure as I have never used it - But using MRN9 you can have a comparison of inventory values as per the 2 principles and if you tick "Update Database", it would post to the books....

Please await further replies from the forum members on this...

br,Ajay M