Inventory Write Down FIFO

Hi
Our business is in the Fashion Industry and we need to regularly write down the value of our stock. We wish to write down the value of our stock for our year end accounts to 31/12/2014 and then each month using a fixed percentage. We use FIFO as the valuation method for inventory.
One option that I am aware of is manually doing this using the Inventory Revaluation function. This is not viable as we have thousands of products each with multiple layers as we use the FIFO method of valuation. It would take hours to complete and the risk of error would be high.
Another option that I am aware of is using the Data Workbench but our providers have advised us that this is very cumbersome and therefore the risk of error is high too.
So I am looking for a viable solution whereby I can write down our stock value by say 35% for year end 31/12/2014 and then 3% per month after that. The write down at 31/12/2014 should produce the following postings on our TB assuming a pre-adjusted stock level of €1,000,000:
CR Stock (Bal Sheet) €350,000
DR Stock Revaluation (P&L) €350,000
Many thanks in advance for your help
Richard

Hi Robert,
As manual process is not favorable by you so only option left is to build a small add on to fulfill your requirement.
If in case of add on all you need to do is to open inventory revaluation form everyday and depends on logic set, system with list all the item with new price and you just need to click on add button.
Regards,
Chintan

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Inventory Write Down FIFO

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