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We’re excited to announce that the 2025 Community Recap is now available! This special recap highlights the amazing contributions and achievements of our members over the year and celebrates the collective success of our community.
Check your personalized recap to see the impact you made in 2025 and how your efforts helped shape our community’s growth and success.
View Your 2025 Community Recap
Thank you to everyone for your passion, collaboration, and support. Here’s to building an even stronger community together in the year ahead!
Confirm Definition of Average Cost for FIFO Inventory
Can an inventory expert from NetSuite please confirm or correct my understanding of how the inventory field "Average Cost" is calculated?
EDIT: After more discussion with another NetSuite Support Rep, I need to change my original understanding to this:
After considerable discussion with NetSuite Support Rep, here is what I understand, when you have the Costing Method set to FIFO, and Multi-Location Inventory enabled:
[LIST=1]
[*]The field labeled "Last Purchase Price" is actually the cost determined from the last transaction for that Item. There is NO averaging of any data.[LIST]
[*]If the item is an "inventory item", then the transaction would be[LIST]
0