• Stock Valuation Policies: AVCO, LIFO, and FIFO

  These methods are used to value inventory and determine the cost of goods sold (COGS). They are critical for financial reporting, taxation, and internal management. 1. FIFO (First-In, First-Out) Concept: The first items purchased (oldest inventory) are assumed to be sold first. Remaining inventory consists of the most recently purchased items. Use Case: Common in businesses where inventory items are perishable or have an expiration date (e.g., food or pharmaceuticalFew readers

• Part Inspections

  You can now set a flag on parts to be inspected once received. In the part actions menu click on 'edit part'. Under the purchasing section, set the 'inspection required on receipt toggle' to on and add any required inspection notes. [](https://downloads.intercomcdn.eu/i/o/mb5hkixl/67124483/a85ee79f8cdc7ed08bc340287d2d/image.png?expires=1784122200&signature=b4787991d3d1facaFew readers