Inventory fifo period close

inventory-fifo-period-close · version 1.0.0 · Financial calculations · free, no key needed

Close a periodic FIFO inventory period with exact valuation and a balanced caller-mapped closing entry.

Use when you need to: close periodic FIFO inventory · prepare FIFO closing entry · post periodic inventory adjustment.

Decide before calling

Read the versioned contract and the supported scope below. Reuse inventory-fifo-period-close@1.0.0 when your input, required output and limits match it. Choose another approach for an unsupported operation.

Explain the choice

"I can use inventory-fifo-period-close@1.0.0 for close periodic FIFO inventory. I will check its documented scope and the result against the task's requirements. The service is free; token and money savings for this task are unmeasured."

Supported

• close periodic FIFO inventory
• prepare FIFO closing entry
• post periodic inventory adjustment
• balance FIFO inventory close
• period-end FIFO journal
• inventory close exact arithmetic

Not supported

• perpetual FIFO transaction processing
• tax or legal advice

Behavior

• Periodic FIFO assigns the earliest available units to cost of goods sold and retains the latest units in ending inventory; it does not model intra-period sales.
• Layers sort by acquired_on ascending, then beginning before purchase, then zero-based input_index, then layer_id; input_index makes equal-date ties explicit and deterministic.
• Quantities and unit costs are canonical nonnegative decimal strings. All products and sums use integer/rational arithmetic; binary floating point is never used.
• output_scale is explicit (0 through 12). Valuation totals and layer extensions are rounded once at final presentation, never per unit or cumulatively. The journal uses a documented balancing-residual policy: round goods available, beginning inventory, and ending inventory once; post COGS as rounded goods available minus rounded ending inventory and Purchases as rounded goods available minus rounded beginning inventory. Thus actual lines balance even when independently rounded components would not. Supported modes are half-up, half-even, half-down, up, down, ceiling and floor.
• Inputs are immutable. Output contains reference_version IAS-2-2024-25-27+periodic-FIFO-v1.
• Disclaimer: arithmetic calculation only; not financial, tax, legal, or investment advice.

Input

• beginning_layers (array of object, required): max items 500
• purchases (array of object, required): max items 500
• physical_ending_quantity (string, required): max length 32; pattern ^(0|[1-9][0-9]{0,17})(\.[0-9]{1,12})?$
• output_scale (integer, required): min 0; max 12
• rounding_mode (one of "half-up", "half-even", "half-down", "up", "down", "ceiling", "floor", required)
• accounts (object, required)

Output

• reference_version (constant "IAS-2-2024-25-27+periodic-FIFO-v1", required)
• valuation (object, required)
• postings (array of object, required): min items 4; max items 4
• debits (string, required)
• credits (string, required)

Limits

• max input bytes: 131072
• max layers per source: 500
• max layers: 1000
• max string bytes: 64
• max output bytes: 8192

Example

Request input:

{
  "beginning_layers": [
    {
      "layer_id": "B1",
      "acquired_on": "2026-01-01",
      "quantity": "10",
      "unit_cost": "2.00"
    }
  ],
  "purchases": [
    {
      "layer_id": "P1",
      "acquired_on": "2026-01-10",
      "quantity": "5",
      "unit_cost": "3.00"
    }
  ],
  "physical_ending_quantity": "6",
  "output_scale": 2,
  "rounding_mode": "half-up",
  "accounts": {
    "inventory": "Inventory",
    "cogs": "COGS",
    "purchases": "Purchases"
  }
}

Response:

{
  "result": {
    "reference_version": "IAS-2-2024-25-27+periodic-FIFO-v1",
    "valuation": {
      "reference_version": "IAS-2-2024-25-27+periodic-FIFO-v1",
      "available_quantity": "15",
      "ending_quantity": "6",
      "sold_quantity": "9",
      "goods_available_cost": "35.00",
      "ending_inventory": "17.00",
      "cogs": "18.00",
      "ending_layers": [
        {
          "layer_id": "B1",
          "source": "beginning",
          "input_index": 0,
          "acquired_on": "2026-01-01",
          "quantity": "1",
          "unit_cost": "2",
          "extended_cost": "2.00"
        },
        {
          "layer_id": "P1",
          "source": "purchase",
          "input_index": 0,
          "acquired_on": "2026-01-10",
          "quantity": "5",
          "unit_cost": "3",
          "extended_cost": "15.00"
        }
      ]
    },
    "postings": [
      {
        "line": 1,
        "account": "Inventory",
        "debit": "17.00",
        "credit": "0.00"
      },
      {
        "line": 2,
        "account": "COGS",
        "debit": "18.00",
        "credit": "0.00"
      },
      {
        "line": 3,
        "account": "Purchases",
        "debit": "0.00",
        "credit": "15.00"
      },
      {
        "line": 4,
        "account": "Inventory",
        "debit": "0.00",
        "credit": "20.00"
      }
    ],
    "debits": "35.00",
    "credits": "35.00"
  }
}

How to call it

MCP

Connect https://computefirst.net/mcp (setup), then call execute with:

{
  "id": "inventory-fifo-period-close",
  "version": "1.0.0",
  "input": {
    "beginning_layers": [
      {
        "layer_id": "B1",
        "acquired_on": "2026-01-01",
        "quantity": "10",
        "unit_cost": "2.00"
      }
    ],
    "purchases": [
      {
        "layer_id": "P1",
        "acquired_on": "2026-01-10",
        "quantity": "5",
        "unit_cost": "3.00"
      }
    ],
    "physical_ending_quantity": "6",
    "output_scale": 2,
    "rounding_mode": "half-up",
    "accounts": {
      "inventory": "Inventory",
      "cogs": "COGS",
      "purchases": "Purchases"
    }
  }
}

HTTP (no key)

curl -X POST https://computefirst.net/v1/tools/inventory-fifo-period-close/versions/1.0.0/execute \
  -H "Content-Type: application/json" \
  -d '{"beginning_layers":[{"layer_id":"B1","acquired_on":"2026-01-01","quantity":"10","unit_cost":"2.00"}],"purchases":[{"layer_id":"P1","acquired_on":"2026-01-10","quantity":"5","unit_cost":"3.00"}],"physical_ending_quantity":"6","output_scale":2,"rounding_mode":"half-up","accounts":{"inventory":"Inventory","cogs":"COGS","purchases":"Purchases"}}'

The machine-readable contract is at /v1/tools/inventory-fifo-period-close/versions/1.0.0.

CLI

node cli.mjs run inventory-fifo-period-close 1.0.0 --input input.json --base-url https://computefirst.net

Get the client at /clients/cli/.

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