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The Insertion date column in the table above indicates the date the stock was received into inventory. |
Your pricing method is FIFO. You need to return 10 air filters that were originally purchased on purchase order number 10003 at 8 USD each. At the time of the return, the R5FIFO table contains the following information:
|
Insertion date |
Quantity in store |
Price |
Purchase order number |
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1-APR-2002 |
2 |
18 USD |
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7-MAY-2002 |
9 |
8 USD |
10003 |
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10-JUN-2002 |
8 |
9.50 USD |
10004 |
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The Insertion date column in the table above indicates the date the stock was received into inventory. |
Datastream 7i locates the 9 parts at 8 USD from the original purchase order 10003 for the return and deletes this record from the R5FIFO table, because there is no remaining quantity of this part for this R5FIFO record.
There are no matching records of the part on a purchase order line from which to fulfill the return quantity, and 1 part is still needed to fulfill the return quantity of 10, so Datastream 7i then locates the first record of 2 parts at 18 USD that were received into inventory and inserted into the R5FIFO table on 1-APR-2002. Datastream 7i updates the quantity from 2 to 1 for the return. The last part is returned at the price of 18 USD.
Datastream 7i calculates the price of the return using the following equation:
[(9 air filters @ 8 USD each) + (1 air filter @ 18 USD each)] / 10 = 9 USD
After completing the return from store to the supplier, the R5FIFO table contains the following information:
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Insertion date |
Quantity in store |
Price |
Purchase order number |
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1-APR-2002 |
1 |
18 USD |
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10-JUN-2002 |
8 |
9.50 USD |
10004 |
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You can view and/or edit stock value information created by transactions for all LIFO/FIFO stock on the Stock value page of the Stock form (SMSTOC). |
