FrontAccounting forum — Controlling Inventory using FIFO & LIFO

Re: Controlling Inventory using FIFO & LIFO

2010-09-18T15:53:36Z

Hello Joe,

Thanks for your quick response.
If I may ask, is it possible to include these parameters in your next release because a lot of firms uses FIFO, LIFO and Average.
It is just a suggestion

Thanks once again

Popsicles12

Re: Controlling Inventory using FIFO & LIFO

2010-09-17T20:58:15Z

FrontAccounting uses the average price of the items when delivering. Not FIFO or LIFO. The average price is recalculated everytime new items are received into stock.

/Joe

Controlling Inventory using FIFO & LIFO

2010-09-17T19:32:33Z

Hello Joe,

Please i will like to ask a somehow unintelligent question. Where do I control my inventory using FIFO and LIFO in frontaccounting. I am having a little challenge because goods prices are always fluctuating. I used a price in June this year and today the price of the product has reduced.
when i try to print the sales of June, it was taking the new prices. I believe I must have done something wrong. Kindly help.

popsicles12