At what point does FIFO/LIFO inventory costing occur?
At what point does FIFO/LIFO inventory costing occur?
FIFO/LIFO inventory costing without Advanced Receiving occurs at the time of bill entry. This is because inventory costing needs the final costs from the bill to calculate the cost of inventory. Therefore, inventory costing can't be finalized upon item receipt if Advanced Receiving isn't being used.
If you do not use Advanced Receiving, inventory costing occurs at time of bill entry. Ref - https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N2194541.html#bridgehead_N2194718