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inventoryAccountingFIFOinventoryValuation
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Qaddafi Putra Gary

So let's say I got a case like this with the FIFO costing method:

  1. I ordered 5 chairs from vendor ABC for $100 with PO reference PO001
  2. The next day, I ordered 8 chairs from vendor XYZ for $80 with PO reference PO002
  3. There are 2 chairs from PO002 that is not in a good condition so I returned them to vendor XYZ

Based on point 3, why is Odoo using the cost from the first purchase for the journal and inventory valuation even though I'm returning the second purchase?

Is FIFO also applied to the product return scheme too? Because I think it should be applied to sales only or maybe I'm mistaken? wdyt?

Could anyone help me? This thing really bothers my mind haha

Thanks before for the answer and insight :D

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Qaddafi Putra Gary
Autor Best Answer

Hello Cybrosys, thank you for your answer

I've been poking around for an answer then I found this thread https://www.odoo.com/forum/help-1/purchase-returns-in-v14-186762

and I think this is the "official" answer from Odoo for now
https://prnt.sc/ilsFToWvQk1m

I guess we'll have to wait or do some customization here haha

But anyway, thanks for checking out :D

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Cybrosys Techno Solutions Pvt.Ltd
Best Answer

Hi,

In FIFO, when a product leaves a stock the 'First In First Out' rule will be applies. The first value “in” is the first value “out”, no matter the storage location, warehouse or serial number.

Whenever the products leaves stock, this rule will be applied.

In your case, you may be created a return transfer and based on this rule first in will be the first out.

Regards

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