PART_CALCULATE_TYPE

Product

Civic Platform

Type

System Switch

Description

This Standard Choice defines the formula options for calculating the costs of parts.

Standard Choice values can include:

LIFO. Stands for last-in, first-out, meaning that the most recently received items are issued/transferred/adjusted/reserved first in transactions.

FIFO. Stands for first-in, first-out, meaning that the oldest inventory items are issued/transferred/adjusted/reserved first in transactions.

Simple. The unit cost of inventory parts equals to the sum of the unit cost of the most recently received items and the previous average unit cost, and divided by two.

Weighted. Similar to the Simple formula, but weighted by quantity.