Hi:
In a test company I tested the posting of a sales invoice, and pasted below are the resulting General Ledger Entries.
5000 is Cost of Goods Sold, while 1200 is Inventory. FIFO is the inventory valuation method.
It would appear that posting both increased and decreased Cost of Goods Sold and Inventory, as if the transaction had been a "wash" (i.e. no effect).
Why?
Thanks!
John