I have this inventory Item (Juvenile 3) with custom Income Account and Expense Account.
Currently, these inventory are worth Php800 and I recorded a sales transaction for Php1 each.
The sales account appeared in the PnL but the expense account did not.
I’d appreciate any help.
This worked. I appreciate it.
However, it did not charge the entire 800 to cost of sales. Only a fraction of it.
The sold goods were taken from location A2 containing the P800 but when computing for the cost of sales, the software used weighted average. It took account of the entire juvenile 3 inventory including those in the other location.
Unfortunately, Manager doesn’t track cost of items per location. Inventory Locations are only for tracking quantities.
Also i noticed you have selected FIFO for Inventory Items which at the moment is not working. So you have to use Weighted Average method.
The manager work with best inventory flow method, the moving average cost method, not the weighted average cost method.
As our colleague mentioned, it’s preferable to adjust the inventory flow from FIFO to average cost.
Sometimes, when recording sales, the cost of sales is not calculated until after recalculating.
As for calculating the cost of sales for each location separately, this is somewhat illogical. However, it can be calculated using divisions.
