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author's profile photo Former Member
Former Member

FIFO Inventory Costing

Good day,

I had a little issue in inventory costing using FIFO. It seems that the system records the Cost of the item which first entered regardless of the posting date/receipt date. I tested one transaction in GRPO dated today and make another GRPO entry assuming that I had an unrecorded GRPO dated yesterday. I expect that the system will pick the Cost of the item dated yesterday since it should be the first-In cost of the item in actual inventory but the result surprised me. The item cost picked the first inventory recorded or entered into the system. It didn't consider the date of receipt/posting date of GRPO. I monitored the changes using the OIVL and OIVQ table. Is there anyone who can explain how FIFO costing defined in the system? Does the system post the right FIFO costing?

Thanks and best regards,

Ardie

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  • author's profile photo Former Member
    Former Member
    Posted on Jun 11, 2012 at 11:06 AM

    Hi Ardie,

    System Date (actual date of system when you record the transaction) plays a role into inventory costing.

    Best Regards,

    Samir Gandhi

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    • Former Member

      Yes I know. But is that the right way of costing the inventory using FIFO? I bet it should be the actual date when you received that item and not the actual date when you input the data into the system. Anyway, thanks for your reply. I was just wondering if there's just a set-up related issue into the database, but I already checked all the setting and I found nothing.

      Regards,

      Ardie

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