If you are using LIFO or FIFO inventory valuation method, the Adjust Item File To LIFO/FIFO application allows you to balance your Inventory Item File with your LIFO/FIFO layer file. There are two procedures you can run to balance the Item File with the LIFO/FIFO layer file. The first procedure, Initialize LIFO/FIFO File, will create the layer file with the current quantities and costs in the Inventory Item File and is normally run as a start up step for the LIFO/FIFO inventory valuation. This procedure, Adjust Item File To LIFO/FIFO, allows you to balance the Inventory Item File to the layers in the LIFO/FIFO layer file. This procedure is used if the layer file and the inventory item would become out of balance. Because the layer file contains the detailed receivings for the item it can be used to balance the Inventory Item File.
Select Adjust Item File To Lifo/Fifo from the pull down I/M Processing window. The following screen will then be displayed:
The following options are available:
- Select the desired mode from the Adjust Item File To Lifo/Fifo menu bar
- Enter the data requested on the screen
To return to the menu bar, press the ESC or F10 key. To leave this application, press X for EXIT when positioned at the menu bar.