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Calculation of Estimated Total Value when using Standard Costing
I wonder if you could help me out here please?
Here's my problem:
I have set up standard cost of 3.91608696 for an inventory item
I use the Inventory Adjustment Form (Transactions>Inventory>Adjust Inventory) and I enter an adjust qty of 5
I am expecting NetSuite to calculate Estimated Total Value thus: 5 x 3.91608696 = 19.5804348
If this is rounded to 2 decimal places, I should see 19.58 in the Estimated Total Value field
But I am actually seeing 19.60 (2 pence difference)
Can someone explain why NetSuite is doing this please?
If this occurs for thousands of items over the course of a year, the stock value may be materially under or over stated and the auditors may not provide financial sign off
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