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FIFO Calculation in Netsuite
Hi All,
We have tested item using FIFO costing method.
I have set up in accounting preference> item inventory for FIFO
In Inventory Item using FIFO method.
I am using dummy data/ amount.
1st Inventory Balance
01/01.2026 quantity: 1000 and unit price 500,000 = 500,000,000
Inventory In
10/01/2026 quantity 300 and unit price 550,000 = 165,000,000
then Inventory out
12/01/2026 quantity 500 means -500 took the first price e.g 500,000
on 12/01/2026 inventory out -550 means
500 * 500,000 = 250,000,000
50*550,000 = 27,500,000
Total = 277,500,000
but why in the report: inventory valuation shown 282,500,000 ?
Did i do the wrong calculation ?
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