What is FIFO price table in SAP MM-IV - Invoice Verification?

SAP Term: FIFO price table

• Component: MM-IV

• Component Name: Invoice Verification

• Description: A database table in which you can save the results of FIFO valuation daily.

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• Key Concepts: 
  FIFO price table is a feature of SAP's Materials Management (MM) Invoice Verification (IV) component. It is used to store the prices of goods that have been purchased from vendors. The prices are stored in chronological order, with the most recent price being the first one listed. This ensures that the most up-to-date prices are used when processing invoices.
  
  How to use it: 
  The FIFO price table is used to store the prices of goods that have been purchased from vendors. When an invoice is processed, the system will look up the most recent price for the item in the FIFO price table and use it for calculating the total cost of the invoice. The FIFO price table can be accessed and updated through the MM-IV Invoice Verification component in SAP.
  
  Tips & Tricks: 
  It is important to keep the FIFO price table up-to-date in order to ensure that accurate prices are used when processing invoices. It is also important to ensure that all vendors are using the same pricing structure so that there are no discrepancies between invoices.
  
  Related Information: 
  The FIFO price table is related to other features of SAP's Materials Management (MM) Invoice Verification (IV) component, such as vendor master data and invoice verification rules. It is also related to other components of SAP, such as Financial Accounting (FI) and Controlling (CO).