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Join us for complimentary one-day events around the world and step into a future fueled by AI and limitless potential. Explore new breakthroughs, sharpen your skills, and connect with experts who are shaping what’s next. Experience bold keynotes, interactive learning, and connections that span the global NetSuite community. Discover what's next at SuiteConnect Tour 2026.
NetSuite launches new wholesale distributions solution in Japan in January 2026!
NetSuite has launched SuiteSuccess Wholesale Distribution Edition, in Japan. Please join us the webinar on February 12 that introduces NetSuite solution with demos and case studies for Wholesale Industry.
Register Now
NetSuite has launched SuiteSuccess Wholesale Distribution Edition, in Japan. Please join us the webinar on February 12 that introduces NetSuite solution with demos and case studies for Wholesale Industry.
Register Now
NetSuite 2026.1 Release Notes - This document summarizes the changes to NetSuite between 2026.1 and the previous release.
Have questions or experiences to share? Post your Release 2026.1 questions and join discussions in the Release 2026.1 category.
Have questions or experiences to share? Post your Release 2026.1 questions and join discussions in the Release 2026.1 category.
FIFO inventory's COGS and values
1.We are using the FIFO for cost method, but recently discovered the following issue:
3/1: Purchased 6 units at a unit price of 8
3/15: Purchased 20 units at a unit price of 20
3/19: Sold 1 unit
3/21: Sold 10 units
According to FIFO, the COGS for 3/19 should be 8, and for 3/21 it should be 140 (5*8 + 5*20). However, the system shows an average cost of 17.23, and the ending inventory balance on 3/31 is also shown as 258.45 (15*17.23), but it should correctly be 300 (15*20).
2.Based on the above situation, it appears that our every inventory's COGS and values for previous months are also incorrect. How can we correct the COGS and inventory values for specific periods?
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