Reply To: Decimal places for Unit/Standard cost

  • Joseph Gorman

    June 6, 2023 at 6:59 pm

    Thanks so much for your help Kim, Steve and Dave.

    It looks like I don’t actually have a decimal issue but I still have a problem with the veracity of the Inventory Valuation report. I do think that we should run the Inventory to G/L Reconcile more as it has so much information.
    So, the report does not do an on-hand * unit cost calculation to get the inventory value as I thought but does as you say a value divided by the quantity calculation.

    It gets the Inventory Value by summing the values in the Cost Amount (Actual) field in the value entries for that item, and then divides that by the on hand to get the unit cost.
    The cost and inv value are based on the sum of Cost Amount (Actual) of the value entries at a given end date. It starts at a given begin date and calculates the value of the item’s inventory then adds the value of inventory increases and subtracts the value of inventory decreases up to a given ending date.

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