LIFO/FIFO F/M (ICF410)

Use this to create and maintain last in first out (LIFO) or first in first out (FIFO) costing layers. It is only available for use when the LIFO/FIFO Layers flag in the IC Static Control Record is set to O-LIFO or F-FIFO.

Information is entered for each item by warehouse. It includes for each level (up to 10 levels allowed) the sequence number of the layer, date received, received cost and quantity received.

This file is updated by Purchase Order receipts and through the IC Adjustment Entry program when the adjustment code is RC (receipts) is used.

Access this program by choosing Inventory Control-->Costing & Pricing-->LIFO/FIFO F/M.

Use the following fields to create LIFO/FIFO costing layers:

1. Warehouse

Enter the warehouse. The entry must be valid warehouse. F2 allows a search.

2. Item

Enter the item number. F2 allows a search.

For each costing layer stored, enter the following fields:

3. Sequence Number

Enter the sequence number for this layer (1-99).

4. Date

Enter the date received.

5. Cost

Enter the cost at which each item was received. Press Enter (CR) to default to 0.

6. Received

Enter the quantity received for the layer. A quantity of 0 is not accepted.

Display only fields

The On Hand quantities show the number of items in the warehouse at each level.

The Allotted quantity refers to the quantity of a particular cost layer that has been confirmed for shipment, but not yet relieved by the Daily Sales Register.