@Malcolm Ziman wrote:
@kim-z wrote:
But as I go back to Bill #1 and change the Qty from 10 to 20.
I ran the "Inventory Valuation Detail" report again and it look something like this.
It doesn't look correct to me.
| Transaction Type | Qty | Rate | FIFO Cost |
| Inventory Starting Value | 10 | 5 | 50 |
| Bill #1 | 20 | 6 | 120 |
| Invoice #1 | -15 | 6 | -90 |
As you can see the Invoice #1 now use all item with Rate = 6.
I expected to see it use 10 Qty with Rate = 5 and another 5 Qty with Rate = 6.
Can someone help me understand how FIFO work in this scenario?
I replicated your scenario in the sample co, and even after I changed the Bill to 20 I still got 5 x$6 and 10 x $5 for the COGS of the invoice. i.e there was no change.
They say to clear cache for strange behavior.
I would assume it looks at the time of the transaction if 2 are on the same date. Maybe it looks at the modified time, instead of the create time, but in my test, I see it did not
Thanks Malcolm but I tested myself and get the result as per Catherine suggested.
So, It base on the purchase date first and if the purchase date is the same it base on the most items available and if it has the same number of item then i guess it base on created date (as per my experiment).
