Hello Everyone, Any possibility of making a choice of inventory costing method other than average costing method?

Thanks. Please can you help for factors in defense of Average cost . My client wants a different method.

As you may be aware Manager in the guides explains it uses average cost. Search the forum to find out why.

[image] glowhite: Please can you help for factors in defense of Average cost . The only defense is that the developer chose this method. If your client won’t use it, then your client cannot use Manager for inventory control.

[image] glowhite: Any possibility of making a choice of inventory costing method other than average costing method? For a feature to be added to Manager, the developers would need to be convinced the feature added significantly to Manager and it was not to expensive to add. Both of these requ…

[image] Patch: justify the case based on things like jurisdictions requirements or how commonly it is required. I am not against the idea / request for using different inventory costing methods. I actually do not like the average method as most of our businesses operate in volatile costing en…

Very correct@Eko, most Accounting/Inventory Softwares are aware of this reason why they include FIFI, LIFO etc as options. It will be worth a while if @Manager team will look at it for possible inclusion in future update.

You know choice of costing method ought to depend on individual business/economic environments. Most African business environments are very volotile, prices fluctuate. It will make sense if we have options of the major costing methods such as fifo, lifo in addition to the default average cost.

Why I am not pressing for any method is because we use separate systems for inventory management and just use summaries for accounting in Manager. However, as Manager has an inventory module it would make sense to at least offer a method that is more used than the average costing one and with FIFO d…

Alternative Inventory Costing Method

eko June 4, 2022, 8:24am 13

I searched the forum and it is clear from below why FIFO can not be implemented by the developer.

Topic		Replies	Views
Inventory costing FIFO method	12	3247	September 14, 2022
Can you add FIFO mothed insteed on inventory average cost	3	793	May 30, 2024
Costing Method	3	673	May 6, 2019
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How to use First in First out (FIFO) Inventiry method	4	3128	February 7, 2019

Alternative Inventory Costing Method

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