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History of Average Cost of Items
How do I find Average Cost of an Item at a given point in time?
As per the definition below from Netsuite, since the Average Cost changes based on the new purchase costs and Inventory, we would like to see how the Average Cost is changing over a period of time. Reason is, we use Average Cost for spend reports and they can vary based on this value. Thanks in advance.
Field ID: averagecost |
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This field displays the current average cost of the item across all locations. Using the weighted-average method, the average cost is calculated as the total units available during a period divided by the beginning inventory cost plus the cost of additions to inventory. |
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