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Evo-ERP and DBA Classic >> Items >> FIFO VS AVERAGE
http://www.istechforum.com/YaBB.pl?num=1324044555

Message started by carolg on 12/16/11 at 07:09:15

Title: FIFO VS AVERAGE
Post by carolg on 12/16/11 at 07:09:15

We value our inventory at Average. I have copied the company and trying to get a rough estimate of inventory at FIFO. But when I go into Inventory Default to change A to L, it won't let me. Any way to do this. I am not looking for an accurate amount, just an estimate.

Title: Re: FIFO VS AVERAGE
Post by Dennis Wilkinson on 12/16/11 at 13:47:51

The way to change from Average to FIFO is through Items-IN-L-I (Change Costing Method). As you discovered, you cannot change through the default menus

Title: Re: FIFO VS AVERAGE
Post by carolg on 12/16/11 at 14:07:40

I agree but I get two messages.

An error has occured while trying to open file - BKSYMSTR.BME-88

You have tried to access a file that has not been previously opened, or the file number value (FNUM) passed was 0.

Title: Re: FIFO VS AVERAGE
Post by Lynn_Pantic on 12/16/11 at 18:21:05

You aren't going to get anything different than you have now. If you change from Average to FIFO, the program creates a single FIFO bucket of all your on hand inventory at the current average cost. You will only see the effect of FIFO transactions moving forward. It does not try to reconstruct the current value based on past transactions.

Title: Re: FIFO VS AVERAGE
Post by carolg on 12/19/11 at 08:10:53

Thanks. That's what I thought. We will probably have to change our inventory method as of 1/1/2012 due to other circumstances. And that will be OK for future transactions to be using the new method.