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Where can we set inventory valuation?

edited May 7, 2020 7:56AM in Ask A Guru 3 comments

Hi @all

We are using advanced manufacturing features and standard costing. How can I find out what Inventory Valuation Method we are using in NetSuite? Are we using, Periodic, perpetual, Average, LIFO or FIFO?

I know we are using "Standard" for the Inventory Costing Method. I was able to find that in the Accounting Preferences but I was not able to find the Inventory Valuation Method under Accounting Preferences. I also looked in my  Cost Of Goods Sold Variances-Inventory Cost Revaluation Account- chart of account and it does not show what method it is using.

Any suggestions

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