FIFO Valuation

Hi Friends,

We have configured the FIFO inventory valuation and performed business process activities as mentioned below but Moving Average Price (MAP) is being updated in Tax Price 1 of Accounting View-2 tab instead of FIFO Value.

Configuration:

1. Activate/Deactivate LIFO/FIFO Valuation
2. Define LIFO/FIFO Valuation Level
3. Define LIFO/FIFO relevant movement types (Selected all movement types)
4. Define LIFO/FIFO methods
5. Define FIFO Valuation Areas

Business Process:

1. MRF4 – To set the FIFO Option in Material Master
2. MRF3 – To extract all the GR documents
3. MRF1 – Valuate the Goods receipts in order to arrive with total stock quantity and its value
4. MRN9 – to post the accounting entry with diff. amount (FIFO and MAP).

In MRF1 system shows the closing stock at MAP, no impact of FIFO and MAP is updated in Tax Price 1 of Accounting View 2 Tab.

In MRN9 system does not generate accounting entry for diff. amount.

Please help us on it to resolve, and is there any configuration step and business process activity missed out.

Thanks in Advance.

Regards,

Venkat