And does LIFO and FIFO still exist?

-----Original Message-----
From: Peter Sanders [mailto:psanders@...]
Sent: 02 November 2004 16:54
To: firebird-support@yahoogroups.com
Subject: **SPAM** [firebird-support] average cost price



Hi

The question on weighted averages prompted this question.

What do, or how do the Firebird "financial experts" calculate the average
cost price of an item purchased over a period of time?

For example goods may be purchased in bulk when on special, and sold at
normal or discount price. The quantity of goods on hand prior to each
purchase of new stock do have some bearing on the average price, though
this (AFAIK) is not normally taken into account.

I think this is "moving averages". Not being an "accountant" type :D I
thought I would seek advice here.

--
Kind regards

Peter Sanders




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