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Inventory FIFO costing

Inventory FIFO costing

Inventory FIFO costing

(OP)
We sell hardware and later the vendor will offer several software upgrades. Each upgrade for a particular piece of hardware has a different cost.  Using the FIFO method, how can we stop the cost from averaging?

RE: Inventory FIFO costing

If you use FIFO then the cost is based on tiers.  These are records in the IM3 Item Costing file.  FIFO is NOT averaged although there are some fields in various files such as the IM2 Item Warehouse file that hold an average but when it comes to posting an invoice it is the actual cost tier that is used and not the average. You will have an average figure even if you use Lot of Serial, you just have to understand that it is for display purposes only for the most part.

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