Hi
I am aware about the FIFO method but would like to know how do we use this method in the production module( manufacturing) area and what are the impacts does this method have in the ledger transactions.
There is no difference in it as a purchasing or production context in reality - what are your concerns?
“Any fool can know. The point is to understand.” ― Albert Einstein
As you must be knowing, when you perform closing, the FIFO based items issues will be applied to corresponding first receipt.
So, when you are consuming item in production then the first available receipt will be applied against it. Same is with sales, purchase return or inventory journal with negative quantity.
Pranav...
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Expect the best, plan for the worst and prepare to be surprised
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