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Hi All
Currently my client is using the "Weighted average " method as the inventory model group, now they want to issue their item on FIFO method. Can we use these method at the same time mean for issue of the item we use FIFO as they are using the batch numbers.
thanks
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Thanks Aamer
Yes you and Bilal are 100% right items are mapped one to one. And only one costing method we can use. Here i want to know if i use the Weighted average as costing. FIFO issuene method as i am using the batch number . For example i purchase the milk today, next day also i purchase the milk. When i issue the milk, i will issue the milk which i purchase first means the issue of the item will be FIFO.
thanks
Hello Imran,
The Item group relation to item is One to One as Bilal mentioned, and it is imposipole to mix two costing model even in the business level, the company should follow only one direction whether it is FIFO, Weighted average cost for specefic items.
Microsoft Dynamics AX behavior is always costing the item issuances with moving average, and adjustting the issuances in the inventory closing at the end of the month according the the value model the company working in.
Please review the business requirements, and re-validate it. In my country it is prohibitied by law, so it is strange for me.
Regards
Any comment.........Is this correct or some more thing is there....
thanks
Hi Bilal
But this model group we use in costing of the inventory. I think if we create the a dimension group in which "financial inventory" is based on the batch number we can get FIFO issuence and costing Weighted average.
thanks
Hi Imran,
It is not possible. Actually, item model group is assigned to the product itself and it can be only one for each item/product at a time.
Also, just find it good to mention that other than the standard costing, inventory is issued always at the running average price; FIFO, LIFO, Weighted average etc. are used only at the time of inventory closing to perform the necessary inventory adjustments and settlements.
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