In release 5.42, a Use First in First Out (FIFO) stock values option has been added to the Stock Check report (3. Reports, 6. Stock reports, 1. Stock Check report).


This will calculate the unit price and value for a stock item, based on the item cost from the actual invoice amount (and not the Toniq wholesale cost).





Examples:


Order date

Quantity

Unit Cost

20/04/22

10

$5

22/04/22

50

$5

25/04/22

30

$4

29/04/22

60

$6


  1. We have 80 items on hand. 

    • Calculation is ((60 x $6) + (20 x $4)) / SOH = FIFO Cost of $5.50

  2. We have 100 items on hand. 

    • Calculation is ((60 x $6) + (30 x $4) + (10 x $5)) / SOH = FIFO Cost of $5.30