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Discussions

Calculation of Estimated Total Value when using Standard Costing

I wonder if you could help me out here please?

Here's my problem:

I have set up standard cost of 3.91608696 for an inventory item

I use the Inventory Adjustment Form (Transactions>Inventory>Adjust Inventory) and I enter an adjust qty of 5

I am expecting NetSuite to calculate Estimated Total Value thus: 5 x 3.91608696 = 19.5804348

If this is rounded to 2 decimal places, I should see 19.58 in the Estimated Total Value field

But I am actually seeing 19.60 (2 pence difference)

Can someone explain why NetSuite is doing this please?

If this occurs for thousands of items over the course of a year, the stock value may be materially under or over stated and the auditors may not provide financial sign off

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