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Understand some accounting items and how to make changes

edited Feb 20, 2015 1:17PM in Accounting / ERP 1 comment

Hello All,

We have been using Netsuite for some time now and wish to make some changes, and I am not sure how to make the changes, or if there is an easy way.  Some questions are below I am hoping people can help answer:

Inventory items:
-We are using AVERAGE for the costing method. 
1)  Does the AVERAGE price ever get reset?  Say when the item reaches 0 and then starts again to average out?
2) Is it possible, without setting up new items to change from say AVERAGE to FIFO?  Maybe via an export and import function?

-If I need to revalue inventory, what would be the best way / easiest way to revalue all the inventory?  Would this be done on an Inventory Worksheet?

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