Cost Management
Cost Management manage your inventory costs in 2 ways:
- Standard Costing - set by yourself.
- Weighted-Average Costing - calculated by system.
see Costing Type.
There are 2 places in Inventory Suite that you can set the Standard Costing:
- Item Maintenance,
- Cost Management Item Listing.
Replace Standard Cost with Weighted-Average Cost
Weighted-Average Cost can be troublesome in accounting, but it is a very good reference for you to set your Standard Costing. Inventory Suite provides a function for you to replace your Standard Costing with current Weighted-Average Cost.
Steps:- Goto Menu Cost Management->Item List
- select items, click on Wac->Std
