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WadeB

Inventory Average Cost

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We have a number of inventory items which utilize standard cost as the valuation method.  Due to a number of reasons, the average cost fields in the CI_Item and IM_ItemCost tables are way off.  The system utilizes the standard cost when posting to the GL, but the tables show extended valuation at the quantity times the average cost. 

 

How do we reset average cost and is there a utility to run monthly to clear this problem out?

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  • 0 in reply to WadeB

    What specific problem(s) is this causing?  From an accounting standpoint (although I am not an accountant)  I believe MAS is still using Standard Cost to receive goods into inventory (for valuation and in Sales for COGS purposes), with the variance between Standard Cost and either the build cost (from a Production Entry) or purchase cost (from a Receipt of Goods Entry) going to the manufacturing or purchasing variance accounts respectively.  If it's a reporting issue, the extended cost at Standard Cost can be calculated in the report.

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