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Inventory Unit Cost relieved of wrong cost RRS feed

  • Question

  • Customer added 3 items (gear boxes that were rebuilt and negotiated as to price per unit) to inventory on the same date, as follows:

    Unit 1 = $1

    Unit 2 = $23,333

    Unit 3 = $20,000

    Customer is on FIFO perpetual basis.

    When Unit 1 was adjusted out of inventory, it was costed as $23,333, not $1.

    The question is: Does GP table IV00118 (in particular, the fields Previous Cost and Present Cost) come into play here when it calculates the cost to relieve inventory?

    Wednesday, August 15, 2012 8:32 PM

Answers