Inventory Valuation Reports
FIFO Cost Lot Tracking
The FIFO Cost Lot Tracking report shows the inward and outward stock movements for each item based on the First In, First Out (FIFO) costing method. Use this report to view how outgoing stock is matched with the earliest available purchase lots during a selected period.
Scenario: Zylker Inc purchased 20 units of a storage unit at $10 each (opening stock), then bought 10 more at $12 each against a bill. When Bailey from Zylker invoices 25 units, FIFO matches the first 20 at $10 ($200) and the remaining 5 from the second lot at $12 ($60), leaving 5 units at $12 available.
To view this report:
- Go to Reports in the left sidebar.
- Navigate to Inventory Valuation folder and select FIFO Cost Lot Tracking.
This report has two sections:
Product In
This section shows the movement of goods into your organization.
| Field | Description |
|---|---|
| Date | The date on which the the stock lot was received into the organization. |
| Transactions | The Reference number and type of the inward transaction that brought the goods into the organisation (e.g., Bill, Opening Stock). |
| Received From | The vendor from whom the lot was received. |
| Item Name | The name of the item received. |
| Quantity | The quantity of the item received in this lot. |
| Age | The number of days the stock lot has been held since it was received. |
| Cost Per Unit | The purchase cost of one unit in this lot. |
| Total | The total purchase cost of the lot (Quantity x Cost Per Unit). |
Product Out
This section shows the movement of goods out of your organisation.
| Field | Description |
|---|---|
| Date | The date on which items were moved out of the organization. |
| Transactions | The reference number and type of the outward transaction (e.g., Invoice, Shipments). |
| Dispersed To | The customer to whom the items were sold or dispatched. |
| Qty Dispersed | The quantity of the item sold or dispatched in the transaction. |
Customize Report
You can customize the FIFO Cost Lot Tracking Report to filter results by date range, item name and location. To customize this report:
- In the FIFO Cost Lot Tracking report page, click the Customise Report icon at the top of the page.
- Under General, configure the following filters.
| Filter | Description |
|---|---|
| Date Range | Select a predefined period such as a week, month, quarter, or year, or select a custom date range to filter the report. |
| Item Name | Select the item for which you want to generate the report. |
| Generate the report based on the Product Out transactions for the selected date range | By default, this report is generated based on Product In transactions. Check this option, to generate the report based on the Product Out transactions recorded during the selected date range. |
| Location Name | Select the location for which you want to generate the report. |
- Click Run Report.
The report will be generated based on the filters you selected.
Inventory Turnover By Amount
The Inventory Turnover By Amount report shows how quickly items are sold relative to their average inventory value during a selected period. Use this report to identify fast-moving and slow-moving items and understand how efficiently you manage your inventory.
The turnover ratio is calculated as follows:
Turnover Ratio = Cost of Goods Sold (COGS) / Average Inventory Value
Insight: A higher turnover ratio generally indicates faster inventory turnover. A lower ratio may indicate slow-moving stock or overstocking.
Scenario: Bailey from Zylker Inc. recorded a cost of goods sold of 60,000 for keyboards during a quarter. The average inventory value of the keyboards during the same quarter was 20,000. The turnover ratio is 60,000 / 20,000 = 3. This means the cost of goods sold was three times the average inventory value during the quarter.
To view this report:
- Go to Reports in the left sidebar.
- Navigate to the Inventory Valuation folder and select Inventory Turnover By Amount.
This report includes the following columns:
| Field | Description |
|---|---|
| Item Name | The name of the item. |
| Opening Balance | The value of the item’s inventory at the start of the selected date range. |
| Closing Balance | The value of the item’s inventory at the end of the selected date range. |
| Cost of Goods Sold | The total cost of the item sold during the selected date range. |
| Average Price | The average inventory value of the item during the selected date range. |
| Turn Over Ratio | The cost of goods sold divided by the average inventory value. |
| Average Turnover Days | The average number of days the item’s stock takes to turn over during the selected date range. |
| SKU | The stock keeping unit (SKU) of the item. |
Customize Report
You can customise the report to filter results by date range, group items, and choose the columns that appear in the report. To customise this report:
- In the Inventory Turnover By Amount report page, click the Customize icon in the top right corner.
- Under General, configure the following filters.
| Filter | Description |
|---|---|
| Date Range | Select a predefined period such as a week, month, quarter, or year, or select a custom date range to generate the report. |
| Group By | Group the report records by Category Name or by an item field. |
| Advanced Filters | Filter the report using fields from Reports and Item. |
- Navigate to Show / Hide Columns on the left sidebar of the page.
- In the Available Columns section, hover over a column you want to add, such as SKU, Item Type, Product Type, Status, Usage Unit, Sales Description, or Sales Price, and click the + icon next to it.
- In the Selected Columns section, review the columns that appear in the report.
- Click Run Report.
The report will be generated based on the filters you selected.
You can also click Save as Custom Report to save your customisations as a custom report.
To view the turnover ratio based on quantity instead of value, see Inventory Turnover By Quantity.
Export, Share, and Schedule the Report
You can also use the following options in the Inventory Turnover By Amount report page:
- Export: Click Export in the top right corner and select a format to download the report.
- Share Report: Share the report with other users in your organisation. To learn more, see Share Report With Another User.
- Schedule: Schedule the report to be sent automatically at a specific frequency. To learn more, see Schedule Reports.
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