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This system supports first in/first out (FIFO) and last in/first out (LIFO) parts inventory pricing methods.

The following steps explain how to implement one of these pricing methods. If you are defining a parts inventory for the first time, start with step 1. If you have already defined the parts inventory, go to step 3.

Step 1.   On the General tab of the Data -> Parts Items -> Setup -> Options screen, specify AVERAGE in the Inventory pricing method field.

Step 2.   On the both the Data -> Parts Items -> Primary Information and  Data -> Parts Items -> Location Information screens, verify the records for all parts and part locations. If necessary, define additional primary and location part records. See the Setup Guide for more information.

If any quantity or unit price adjustments are necessary, use the Data -> Parts Activity -> Adjustments screen to process an adjustment (specify ADD in the Action field, QTY AT A DIFFERENT PRICE in the Adjustment type field, and the new values in the Quantity and Unit price fields).

Step 3.  On the General tab of the Data -> Parts Items -> Setup -> Options screen, specify FIFO or LIFO in the Inventory pricing method field and place a check (ü) in the Start FIFO/LIFO inventory field.