what even old programs like Cougar has, RMS needs to address. The true value of inventory based on either a LIFO or FIFO method. Year end inventories for tax purposes needs to be more acurate than "last Cost" or "Weighted Average".
Average weighted cost is the accepted standard for retail. LIFO-FIFO is impractical for most retail businesses.
I hit I agree to this... will that show as a post?
Marc Wagner
"Public POS" wrote:
I too have a prospect that requires FIFO costing
They operate a franchise based operation with centralised Purchasing
Weighted average distorts the stock valuation for individual franchises' (stores) especially in fast depreciating sectors like electronic goods, where one store holding old stock at a higher value, will distort the stock valuation of a store with newer (cheaper) stock.
I've almost worked out a way that emulates FIFO but it would be good if Microsoft would implement this method of costing direct in the product
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