Question: Todays Profit Issue

Todays Profit Issue

PRODUCT COST IS HIGHER THAN PRODUCT REVENUE THAT CAUSES THE PROFIT INTO NEGATIVE. WE ONLY USE FIRST IN FIRST OUT METHOD.

MO

Mark Olvido

Asked

PRODUCT COST IS HIGHER THAN PRODUCT REVENUE THAT CAUSES THE PROFIT INTO NEGATIVE. WE ONLY USE FIRST IN FIRST OUT METHOD.

  • MO

    Mark Olvido

    Answered

    I CHECKED THE PRODUCT COST AND PRICE, ALL PRODUCT COST IS LOWER THAN THE PRODUCT PRICE

  • MS

    Mian Saleem

    Answered

    Hello,

    May I know your inventory accounting method?

    Are you changing this or using the same from beginning?

    Please don’t use uppercase or all caps.

    Thank you

  • MO

    Mark Olvido

    Answered

    Accounting method is FIrst in First Out. We never change that setup

  • MS

    Mian Saleem

    Answered

    Hello,

    As I can remember this only happend with AVCO and overselling.

    FIFO check the first purcahse code the cost and current product price. If you never purchased a product higher than the price then there shouldn’t be such issue.

    I suspect the method or overselling was changed, please monitor this.

    Thank you

  • Login to Reply