FIFO/LIFO Buckets

Inventory Control 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." The program calculates the cost of units shipped from the costs stored in the buckets.

• For FIFO, units from the bucket having the oldest receipt date are shipped first.

• For LIFO, units from the bucket having the most recent receipt date are shipped first.

There is no limit to the number of buckets Inventory Control can use.