Correct-A-Mondo  current stock is changed. 

That is how Standard Cost valuation works.  The value of your QoH is at the Standard Cost, and if you update the Standard Cost, there is a GL entry to post the value change.

https://help-sage100.na.sage.com/2022/index.htm#Subsystems/IM/ConceptTopics/Inventory_Costing_Methods.htm

Thank you, I thought that was the case. 

An additional question we have - what are the consequences if we change from standard cost to FIFO?

Standard cost is not really working for us and we've been weighing the possibility of this change.  Your thoughts are appreciated.

That is a question for your CPA.  Sage 100 can handle FIFO just fine.

To do that every item must have zero quantity on hand and not be on a purchase order or sales order. So you would have to adjust out inventory and then change the valuation and then adjust back in with a FIFO date. If done correctly there will be no GL adjustment.  It could be a big project depending on how many items you have with quantity on hand.

The Sage utility for valuation change should be able to handle open SO / PO, and QoH.

The warning about no open SO / PO is important if trying to do a change without the utility.  (We've seen corrupted postings when clients have done that).

I thank you both for the information and will pass it along here so they can decide how they want to proceed.