How to value inventory at an individual part & serial no. level?
Is there any inventory valuation method that will value inventory at an individual part number & serial no. level? For the Rotable parts for airplanes, customer wants to track actual cost by part serialized number. The standard inventory valuation methods are -standard cost, FIFO, LIFO and MAUC. Is there a way to value inventory at actual cost at the individual part & serial number level?
For example, I have in inventory
January 1 2012 Part number abc serial 123 $100,000
January 30 2012 Part number abc serial 45 $500,000
November 09, 2012 Part number abc serial 999 $200,000
Issue serial number 45 on November 19 2012. The system should debit the cost of goods sold (as shown below) by $500,000 and not by $100,00 or $200,00.