Hi Steve

Below is one of my concerns, I am not responsible for the financial side of the company.

Right now we have 5 lots showing, example the negative receipt I entered is in Lot 3 and the lot rec'd in error is under Lot 2 and the only way I know of clearing those lots so a sale does not pull from Lot 2 once Lot 1 is sold, is to enter an inventory adjustment to clear both lots out.

Answer to your question is yes this company uses FIFO.

Question: When you are talking about using the moving average, does this mean that there are not diff lots showing under an item in inventory, does this mean there is only one lot and all receipts are lumped together?