FIFO - LIFO Bins for Stock Code

> FIFO - LIFO Bins for Stock Code

FIFO - LIFO Bins for Stock Code

You use this program to view details of FIFO or LIFO bucket allocations for a specific stock item.

These allocations are made if you enabled the FIFO or LIFO options at the Costing method field (Inventory Setup or Warehouse Maintenance) or you are using Actual costing for lot traceable and/or serialized items (Inventory Setup - General tab).

When you process a receipt for the stock item, a new bin is created to store the quantity of the item received and the cost at which it was received. In addition, the date of the last receipt and issue/sale is maintained, which can be queried within the Inventory Query program or printed using the Inventory Valuation program.

When you process a sale or an issue, stock is taken from the oldest bin (for FIFO) or the most recent bin (for LIFO). If there is insufficient stock in the bin, then stock is taken from the next available bin, and so on.

When preparing a valuation of stock, the stock in the oldest bin (for FIFO) or the most recent bin (for LIFO) is multiplied by the cost held within that bin to provide the bin's value. The value of all bins on hand is thus calculated and accumulated to give the total value for that warehouse's stock code.

Toolbar and menu

Field	Description
Options
Include Zero Quantities	Select this to display FIFO bins with zero quantities in the listview.

Listview columns

Column	Description
Date received	This indicates the date on which the item was received into the bucket.
Wh	This indicates the warehouse in which the bucket resides.
Quantity on hand	This indicates the current quantity on hand of the item in the bucket.
Unit cost	This indicates the unit cost of the item in the specific bucket. You can prevent the unauthorized viewing of stock item costs by denying the operator access to the field: Show costs in Inventory/WIP queries (Operator Maintenance).
Revision	This indicates the revision of the item if you are using Actual Costing by Lots and the item is both lot traceable and ECC controlled.
Release	This indicates the release of the item if you are using Actual Costing by Lots and the item is both lot traceable and ECC controlled.
Lot	This indicates the lot against which the bucket exists if you are using Actual Costing (Inventory Setup) for lot traceable items. If you are not using actual costing for lot traceable items, then this column is blank.
Bucket	This indicates the bucket number. When you access this program from within the Actual Cost Allocation program or, when prompted you select to adjust a specific bucket, only the actual cost buckets associated with the specific lot/serial selected are displayed. For ECC controlled items, only the FIFO buckets associated with the select revison/release are displayed.