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 organisation.
| Field | Description |
|---|---|
| Date | The date on which the the stock lot was received into the organisation. |
| 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 organisation. |
| 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 customise this report:
- In the FIFO Cost Lot Tracking report page, click the Customize 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.
Yes