Tax Rate Variance - Calculation Logic/Formulae
1. PO is created with Non Recoverable Tax
2. PO is partially received, Invoiced and closed
3. Tax Lines are cancelled on AP Invoice.
4. Inventory valuation is hitting with an amount, unable to understand the logic.
|Received & Invoiced||Item||9.94||4,342||43159.48||PO Closed|
|Tax||8.25%||3560.66||Tax Line cancelled on AP Invoice|
In Cost Management, Inventory valuation is hit with below amount. Cost information Screenshot in the word attachment for reference.
Question : How/What is the logic to calculate TRV -0.6606/item calculated ? Amount 43851.81 going into Inventory valuation is different from 43159.48 which is the actual invoice amount.