LIFO Inventory DB

[Bean Counter]

I am trying to create a FIFO inventory database.
Can someone advise me on how to retreive the oldest inventory cost and then
the next oldest...once each inventory amount is depleted? to match up to
current Sales?

I have to have it set up to update the Cost of Sales, only once at the end
of each month.

 

[Tony Toews]

I am trying to create a FIFO inventory database.
Can someone advise me on how to retreive the oldest inventory cost and then
the next oldest...once each inventory amount is depleted? to match up to
current Sales?

I have to have it set up to update the Cost of Sales, only once at the end
of each month.

All I can think of is to ensure the cost of the item that was
purchased at that time is stored on the material receipt transaction.
Then as you sell the goods you decrement a counter on the oldest
material receipt transaction. Once that counter for that transaction
hits zero you start decrementing the counter on the next oldest
transaction. Once that counter hits zero then you move to the next
oldest item. and so forth.

Then once a month determine which is the oldest material receipt
transaction which still has that quantity non zero. That receipt then
has your cost.

But yowzer what a pain to program.

Tony
--
Tony Toews, Microsoft Access MVP
Please respond only in the newsgroups so that others can
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[Bean Counter]

Thanks for the help. I will try some of these out and get back to you ~BC

 

[Tony Toews]

Try this article:
http://www.dbazine.com/ofinterest/oi-articles/celko32

Very interesting article. Thanks for posting that.

Note to Bean Counter. Some of that SQL code simply may not work in
Access.

Tony
--
Tony Toews, Microsoft Access MVP
Please respond only in the newsgroups so that others can
read the entire thread of messages.
Microsoft Access Links, Hints, Tips & Accounting Systems at
http://www.granite.ab.ca/accsmstr.htm