General costing/pricing information
May 16, 2018
562
Inventory stores multiple costs: Old, Older, Base, Average and of course Current.
To view these costs at any time pull up an item in inventory and use the Pricing [Ctrl/ P] button:
The Cost indicated with the red arrow at the top (209.60) is the Current Cost
The Base (no Change) Cost is the cost recorded the first time this item was setup in inventory - Base Cost
The Old Quantity of 3.00 is the quantity that was in stock at the Old Cost of (203.50) - the Old Quantity affects FIFO costing
The Old Cost of (203.50) is was the last cost recorded prior to the Current Cost
The Older Cost was the cost prior to the Old Cost and will only factor in to the Average Cost price
The Average Cost is used if the you are reporting or using Average Costing
This particular item has a Quantity in stock of 8 but only 5 of those items will sell out with the Current Cost of (209.60) the other 3 in stock are valued and will be sold out at the cost of (203.50) - refer to FIFO costing for details.
The Base (no Change) Cost is the cost recorded the first time this item was setup in inventory - Base Cost
The Old Quantity of 3.00 is the quantity that was in stock at the Old Cost of (203.50) - the Old Quantity affects FIFO costing
The Old Cost of (203.50) is was the last cost recorded prior to the Current Cost
The Older Cost was the cost prior to the Old Cost and will only factor in to the Average Cost price
The Average Cost is used if the you are reporting or using Average Costing
This particular item has a Quantity in stock of 8 but only 5 of those items will sell out with the Current Cost of (209.60) the other 3 in stock are valued and will be sold out at the cost of (203.50) - refer to FIFO costing for details.
