We are a manufacturer and use Standard Costing for processing transactions. However, it would be very useful if could at the same time maintain cost tiers for FIFO, or LIFO. This would allow us to print an Inventory Valuation report on say a FIFO basis. Standard costing is not really an acceptable costing method for GAAP financial statements. Being able to print the Inventory Valuation report on a FIFO basis would enable us to restate our financial statements for external users.

by: Barry P. | over a year ago | Manufacturing