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Last buy price vs FIFO cost price


On the system, each product has two cost prices:

  1. Last buy price: this is the last purchased price, this can be changed at any time (from the products edit page). It will be used only for future new purchase orders for suggesting the purchase order price.
  2. Product's FIFO or total weighted average cost: this is system calculated and maintained for any stock that have been receipted previously. When the last buy price is changed, it will not affect this cost. Until or after a purchase order (or inventory adjustment) is receipted and costed, this cost price is re-evaluated and updated. All sales reports including the price tier export data uses this cost. It is the actual stock receipted cost.

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