Hello ,
Navision supports 5 costing method s
1. FIFO 2. LIFO 3. Average 4. Specific 5 Standard.
I know most of the comapnies using FIFO, AVERGE, SPECIFIC, Standard.
I could not find any companies using the LIFO costing method.
what i would like to know is which comapnies can use this method ?
for what type of materials will have the LIFO costing method ?
Did any expert use this LIFO costing method in their implementation ?
share your experience about his.
hansika
0
Comments
Independent Consultant/Developer
blog: https://dynamicsuser.net/nav/b/ara3n
The rule of thumb is to use the costing method that matches your way of handling your inventory. Think of it in a supermarket. When you stock new product on the shelf, do you push existing stock to the back, or do you put the new stock in the back? The first case is LIFO, the last case is FIFO.
Personally what I think makes most sense is either standard or specific. All other costing methods are artificial in my opinion, and once you start using them, costing is an abstract exercise anyway.
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MVP - Business Apps
Refer this : http://en.wikipedia.org/wiki/Internatio ... _Standards
Most of the time, the costing method is recommended by their CPA.
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