LIfo costig method Usage companie & Items

Dynamics 365 Business Central/NAV User Forum
1

Hello ,

Navision supports 5 costing method s

  1. FIFO 2. LIFO 3. Average 4. Specific 5 Standard.

I know most of the comapnies using FIFO, AVERGE, SPECIFIC, Standard.

I could not find any companies using the LIFO costing method.

what i would like to know is which comapnies can use this method ?

what type of materials will have the LIFO costing method ?

Did any expert use this LIFO costing method in their implementation ?

share your experience about his.

2

This is not a costing method recognised in the UK due to the ability to incorrectly value your inventory, and as such the accounting standards do not allow its adoption. Again this is not a material based decision in reality, it is how financially the business wants to see the stock reflected - I recommend you go and talk to an accountant about it.