I am having an issue with some missing average costs after transitioning to Inventory revaluations.
Version 23.10.21.1096
Windows10
Inventory items
From Inventory revaluation worksheet (balanced)
There are around 60 items in total out of 680 and I can’t find a common denominator.
Anyone else have an issue with this or a solution?
I’m not sure Average cost and Total cost even belong under Inventory Items column anymore.
The reason is that Average cost is calculated from dividing Total cost by Qty owned but since inventory revaluations are meant to be done only once per accounting period, Average cost and Total cost would not represent real-time values.
I think for average cost and total cost values, you’d need to check Inventory Revaluation Worksheet report.
@lubos the second screen shot is from the balanced IR report, however the figures are not reflected when you look at inventory items.
I’m not disputing there is an issue with Average Cost column. But I think Average Cost column and Total cost columns will need to be removed from Inventory Items tab altogether. The Average Cost and Total Cost can show in some report. Currently it’s Inventory Revaluation Worksheet.
After playing around I can comfirm that as far as reporting etc. the average cost of those items is included in COGS is reported acurately in P&L etc.
Removal of those columns is not a good idea as it gives an indication of the lowest price/cost you can sell an item for, especially if you are clearing out old stock.
We have relied on this above as well it is simple but not opposed to better ways if there are.
I think that these two columns - the Total Cost & Average Cost - are the most important ones for inventory-centric business. If they are removed form the inventory tab, what else will replace them?@Lubos.
