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  1. #1
    Bronze Lounger
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    Inventory Methods (2000)

    Situation: During each month, I purchase, on a daily basis, from 1-xxx items of inventory at various prices. What I would like to accomplish is set up a LIFO and/or FIFO inventory method, such that when I pull these items of inventory out in subsequent months, I will be able to price their cost at either a "last in/first out" method (LIFO) or a "first in/first out" (FIFO methodology. I know there must ba any easy formula, but I am drawing a blank, and could find nothing when I did a search.
    Thanks in advance.

  2. #2
    Plutonium Lounger
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    Re: Inventory Methods (2000)

    See if How to Create a FIFO/LIFO Excel Spreadsheet helps. It was the first hit in a Google search for excel inventory lifo.

  3. #3
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    Re: Inventory Methods (2000)

    Thanks, Hans. When I did my "search", I limited myself to a Woody's-only search. In the future, I will "branch out".
    Thanks again.

  4. #4
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    Re: Inventory Methods (2000)

    Hans,
    I tried your suggestion, and can't seem to get the thing to work. Mind taking a look?
    Thanks.

  5. #5
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    Re: Inventory Methods (2000)

    I think I've found the culprit: for whatever reason, the function is stored with the name "personal.xls!FIFO", when it should be just "FIFO". How might I change that?
    Thanks again.

  6. #6
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    Re: Inventory Methods (2000)

    If you store a custom function FIFO in a module in the workbook itself, you can use =FIFO(...), but if you store it in your Personal.xls workbook, so that it will be available in all workbooks, you must use
    =Personal.xls!FIFO(...).
    Alternatively, you could store the function in an add-in (.xla); you'd be able to use =FIFO(...). See Pieterse's series of articles Creating An Add-in From An Excel Macro.

  7. #7
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    Re: Inventory Methods (2000)

    Thanks again, Hans.

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