About the LIFO date [AX 2012]

Updated: October 10, 2011

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Last In, First Out Date (LIFO Date) is an inventory model based on the LIFO principle. Issues from inventory are settled against the last receipts into inventory, based on the date of the inventory transaction. If there is no receipt before the issue, the issue is settled against any receipts that occur after the date of the issue. Several issues on the same date may be settled in the order of last issue, last receipt.

When you use the LIFO Date, you can choose to mark inventory transactions so that a specific item receipt is settled against a specific issue. You can do this instead of using the rule for the LIFO Date.

We recommend a periodic inventory closing when you use LIFO Date as your inventory model.

For more information, and for examples that use LIFO Date as the inventory model, see About LIFO Date with physical value and marking.

Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).