cancel
Showing results for 
Search instead for 
Did you mean: 

Weighted Average while MIGO Goods Issue - Currency Differences while Goods Issue

devr1
Explorer
0 Kudos
163

Dear Experts,

As per our business Process we have a requirement that while Good Issue through MIGO system should consider FIFO on the cost but not weighted average. Below is the Example for 2 scenarios.

Example 1: We created single PO and MIGO Done with ref to PO. While Goods Issue amount is correct. Our LC is USD and GC is NGN (Naira). We created PO in NGN.

Example 2: When i Create 2 Po's and do Goods Receipt for 2 PO's, after Goods Issue amount is not matching.

PO Number - 1234 (100 Lts) 82,100 Naira
PO Number - 3456 (100 Lts) 78,500 Naira

Goods Receipt done for both the Purchase orders.
GR Document Number - ABC ( with ref PO 1234)
GR Document Number - XYZ (with ref PO - 3456)

After MIGO - Goods Issue (Document No - 6789) amount is incorrect.

Because System is Taking weighted average as per below.

82,100+78,500 = 160,600 Naira
100+100 = 200 Litres
So
160,600 Naira / 200 L = 803.00

We need first consumption should be taken from PO 1 @ 821 Naira Price until PO qty is totally consumed and then consumption will be on PO 2 @785 Naira.

Please advise/suggest to resolve the issue.

Thank You all in advance.

Regards

Saketh K

Accepted Solutions (0)

Answers (0)