FIFO Value (1 Viewer)

I've been playing with the sample database from the "Sample Databases" forum titled, "FIFO Stock", posted by Khawar. (Sorry, can't post the link)

This database does a really good job of keeping track of inventory on a FIFO basis but it does not keep track of the value of the inventory on a FIFO basis so that one can calculate profits when comparing cost to sales price. When a sale draws from inventory from different receipts (and, therfore, possibly different costs) it is desirable to know the exact cost of the product sold.

Since the code is tracking the inventory as FIFO (by lots), can I track the cost associated with each lot and tie the cost to each individual sale line?

Never seen the FIFO Stock database and maybe very few people have, which might explain why your question remains unanswered.

If the sample database doesn't have the fields that do what you need then you'll have to created them and add code the handle calculations

So in short the answer is YES but you may have to do some work.

Also, If you're going to use a sample database commercially, as it sounds like you might be doing, be sure to get proper permissions from the author if it's not already given.

Sorry for the short answer but without anything else to go on that's about as good as you can expect. (Why not just ask the author)

SmallTime

It looks like that user already answered your question here. I didn't view the attachment, but it seems like that is what your looking for.

don't know about the sample database but, and it is a big but

dealing with inventory quantity is hard, but doable

dealing with inventory price and value is a level of magnitude harder.

-----------

you mention FIFO. any costing system is immaterial in terms of quantity, surely. The point is that an inventory line should be homogeneous. it shouldn't matter how you issue stock (unless it degrades with storage, but that is a physical issue). The problem is when you start trying to allocate a [variant/different] cost to certain items of ostensibly the same item. at this point, the stock is no longer homogeneous, so your method of handling it becomes much more complex.

it doesn't really matter what nature of stock valuation you try to use - FIFO/LIFO etc - the problem is the same, and just as hard.

I presume this outline makes sense to you, and indicates just why stock systems are so complex.

The sample database listed in the IP has been used as a learning tool for creating my own FIFO database. Further, almost all inventory database samples I have seen are set up as a "buy item from Company A and sell it to Company B" situations (the one referenced is no different) so do not interpret my line of questions as a way to "cheat" and just blindly copy someone else's code. This is educational and I hope that the things I learn may, in turn, be passed on to someone else.

I am working in a manufacturing environment where the purchased components are converted into one finished product. I have yet to find a good example of many of the important criteria unique to manufacturing and not found in a re-sale environment.

But... back to the original example... this sample database does a very good job at handling the FIFO inventory and my original "batching" question has been resolved. However, when something falls outside of the neat-and-tidy, it gets very complicated and the module does not have means of handling those situations and I cannot figure out how to "bypass" the module should the need arise.

Some examples would be;

Inventory adjustments (inventory which is lost or found or destroyed etc...)
Inventory conversions (taking two or more inventory items and processing them to create a new and different inventory item)
Multiple stockroom locations (where one location is used for issuing inventory and another location is used for Inventory Conversions)

If not for the FIFO module, the above situations are easily addressed but with the module in place, I cannot figure out how to make these adjustments so that it does not interupt the module.