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Inventory Valuation based on vendor bill rate
Hi all,
In most business cases, there will be difference in item receipt rate and vendor bill rate, in such cases, in NetSuite, inventory valuation is taken based on the item receipt rate and not based on vendor bill rate. Because, vendor bill rate is the final rate in which the company creates liability to vendor and that is the cost which needs to be accounted for inventory valuation of those items and not the item receipt rate.
Could anyone help me out in understanding why inventory valuation is not taken based on the vendor bill rate?
If I'm wrong, please correct me....Thanks in advance.
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