Transferring Stock Items that Use FIFO or LIFO Costing
This topic describes how Inventory Control processes transfers for items using the FIFO and LIFO costing methods.
FIFO/LIFO buckets. The program keeps track of the order in which units arrive at a location by storing their receipt date, receipt number, quantity, and extended cost in individual "buckets."
When you transfer units between locations, Inventory Control creates a bucket at the receiving location and stores the transfer number in the bucket. If some time later you want to adjust the item quantity or cost in a specific bucket created by a transfer, you can identify the bucket by the transfer number, which you will find on the Transfers Posting Journal.
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