We’ve introduced three new methods to show the cost per unit and current stock value of the inventory in the Stock Ledger Report and Closing Stock Report .
The three methods are as follows:
1. First In First Out (FIFO):
– The stock value calculation is based on the assumption that for a particular item at the respective outlet, the first quantity purchased is the first quantity sold.
2. Running Purchase Rate:
– The stock value calculation is based on the assumption that for a particular item at the respective outlet, the rate of the previous purchase is the new selling rate.
3. Weightage Average Cost:
– The stock value calculation is based on the assumption that for a particular item at the respective outlet, the cost is based on the average cost of the quantity available for sale during the period.