FIFO Actual costs

jimmyf

I have items set up with a Costing Method of FIFO
There can be many entries for an item purchased at varying prices

I believe that the Actual Cost is not calculated until invoicing the order - Cost Amount (Actual) in Valuation Entry table

Is it possible to report the actual cost of items from a sales order line? My customer wants to assess what the actual cost (not average cost) of an item is when it is entered on a sales order line

Thank you

Alex_Chow

You can only get the actual cost if you use the Applies-to Entry field on the sales order.

jimmyf

Thanks for that, Can I ask you how the Applies-to Entry works and if it will populate the actual cost on the sales order line?

Alex_Chow

Yes, if you fill in the Applies-to Item Entry, it will populate the actual cost known at that point in time.

This means that if the item is not invoiced, or if there are additional landed cost to be posted, it won't be included if it was not posted when the Applies-to Item Entry is filled in.

You can push F1 on that field to learn more on its usage.