Hi
Can anyone guide me how to use First in First out method for inventory?
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As Far as I know the system is designed to use average method. There are not any option to choose the inventory method automatically
I am reasonably sure that the system uses the average cost of the item at the time of sale and there is no other option.
The only suggestion I can make is that you use some sort of “batch code” (possibly date based) and incorporate it into the item code and each time you make a purchase create a new item/batch code.
A bit of a clunky solution and you would need to make sure that sales staff entered the earlier item/batch code first.
I definitely know and am totally sure. Manager uses the average cost method and has no other options built in. As @AJD suggested, the only way to do FIFO inventory management would be to create a new inventory item for every purchase.
Thank you so much for your reply. So there is no option to change it from average to fifo.