SOP Return not following FIFO Perpetual logic

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Posted on by Richard Wheeler

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I recently encountered an instance where a client had one of their customers return 215 widgets. The problem with this is that it did not take into account the correct costs of those widgets. These widgets came in at two different costs. The first 140 came in at $11.95 and the remaining 75 came in at $13.20. On the SOP return was the one cost of $11.95. After doing an inventory return with credit we had to enter a ledger entry to make up the $93.75 difference.(75 x $1.25). Is there a better way to handle this?

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Harold Worby 1,331 on at

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You would need to enter 2 line on the return document.

One returns 140 @ 11.95 and the other 75 @ 13.20.

It can't use FIFO on returns as the inventory is no longer there.

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