I think the word you used to describe the process as “tedious” is too soft. The better word coming in my mind to describe it is “torturous” It took me 2 days of 5~6 hours on the job to complete it. Even then some inventory item had to be recalculated as the average cost changed mysteriously.
@lubos, to be frank, this process to do on occasional or even rare basis is almost impossible as it takes a lot of working hours. Also, the process reflect a big weakness in the system. You must find an alternative to automatically achieve the average cost of better still just one single recalculate button to update the average of all inventory items at a single “click”
In the worst scenario, I am afraid, we need an extra employee to do the process of doing re-calculate of each inventory item on a routinely daily basis to get perfect financial reports