When a purchase invoice is received from a supplier, it should be booked in using Purchase
invoice entry. This allows the system to keep track of the costs of the stock, and apply it to the
costs of individual jobs in which it is used. Printpak uses what is known as ‘first in first out’ or FIFO costing which is a method of valuing
stocks for accounting purposes. Stocks issued are assumed (for calculating the cost of jobs) to
be issued from the oldest available stocks. This means that the ‘oldest’ stock is deemed to be
used first.