What are the inventory valuation methods supported by Monstock ?

Monstock supports the following methods :

• Default Purchase Price
  Uses the predefined purchase price set for each product as the valuation reference.

• Last Purchase Price
  Values inventory based on the most recent purchase cost of the item.

• FIFO (First In, First Out)
  Assumes that the oldest inventory (first purchased) is sold or used first. This method is often used when products have expiration dates or shelf life constraints.

• LIFO (Last In, First Out)
  Assumes that the most recently acquired inventory is used or sold first. This method may be used for specific financial or operational strategies, though it is less common in some jurisdictions due to regulatory constraints.

• Weighted Average Cost (WAC)
  Calculates the average unit cost of inventory based on the total cost and total quantity of similar items in stock. Ideal for smoothing out price fluctuations over time.

• Weighted Average Price (WAP)
  Similar to WAC, this method computes the average purchase price per unit, weighted by the quantity of each acquisition. Particularly useful when dealing with multiple suppliers and variable purchase prices.

• Sales Price
  Uses the product’s sales price as the basis for valuation. Typically applied in scenarios focused on revenue reporting rather than cost tracking.